<SEC-DOCUMENT>0001387131-20-003381.txt : 20200330
<SEC-HEADER>0001387131-20-003381.hdr.sgml : 20200330
<ACCEPTANCE-DATETIME>20200330115811
ACCESSION NUMBER:		0001387131-20-003381
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		100
CONFORMED PERIOD OF REPORT:	20191231
FILED AS OF DATE:		20200330
DATE AS OF CHANGE:		20200330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN REALTY INVESTORS INC
		CENTRAL INDEX KEY:			0001102238
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS [6510]
		IRS NUMBER:				752847135
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15663
		FILM NUMBER:		20755236

	BUSINESS ADDRESS:	
		STREET 1:		1603 LBJ FREEWAY
		STREET 2:		SUITE 800
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		4695224200

	MAIL ADDRESS:	
		STREET 1:		1603 LBJ FREEWAY
		STREET 2:		SUITE 800
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>arl-10k_123119.htm
<DESCRIPTION>ANNUAL REPORT
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <font style="font-size: 14pt;"><b>UNITED STATES</b></font>
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        <font style="font-size: 14pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></font>
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        <font style="font-size: 12pt;"><b>WASHINGTON, D.C. 20549</b></font>
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        <font style="font-size: 18pt;"><b>FORM 10-K</b></font>
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                    <font style="font-size: 12pt;"><b>&#x2612;</b></font>
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                    <font style="font-size: 12pt;"><b>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></font>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>For the fiscal year ended December&nbsp;31, 2019</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>OR</b></p>
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                    <font style="font-size: 12pt;"><b>&#x2610;</b></font>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 12pt;"><b>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></font>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;&nbsp;<b>Commission File Number 001-15663</b>&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-size: 24pt;"><b>American Realty Investors, Inc.</b>&nbsp;</font>
    </p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(Exact name of registrant as specified in its charter)</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Nevada</b></p>
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            <td style="padding: 0pt 0pt 0pt 0pt; width: 49%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>75-2847135</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(State or other jurisdiction of</b></p>
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Incorporation or organization)</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(IRS Employer</b></p>
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Identification Number)</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            <td style="padding: 0pt 0pt 0pt 0pt; width: 49%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>1603 LBJ Freeway, Suite 800</b></p>
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Dallas, Texas</b></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 49%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>75234</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(Address of principal executive offices)</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(Zip Code)</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(469)&nbsp;522-4200</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Registrant&#x2019;s Telephone Number, including area code</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Securities registered pursuant to Section&nbsp;12(b) of the Act:</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Title of each class</b></p>
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            <td style="border-bottom: 1pt solid black; border-left: none; border-right: 1pt solid black; border-top: 1pt solid black; padding: 0pt 5.4pt; width: 34%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Trading Symbol(s)</b></p>
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            <td style="border-bottom: 1pt solid black; border-left: none; border-right: 1pt solid black; border-top: 1pt solid black; padding: 0pt 5.4pt; width: 33%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Name of each exchange on which registered</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">Common Stock</p>
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            <td style="border-bottom: 1pt solid black; border-left: none; border-right: 1pt solid black; border-top: none; padding: 0pt 5.4pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">ARL</p>
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            <td style="border-bottom: 1pt solid black; border-left: none; border-right: 1pt solid black; border-top: none; padding: 0pt 5.4pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">NYSE</p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Securities registered pursuant to Section&nbsp;12(g) of the Act:</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">NONE</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes &#x2610;&nbsp;&nbsp;&nbsp;&nbsp;No &#x2612;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Indicate by check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Act. Yes &#x2610;&nbsp;&nbsp;&nbsp;&nbsp;No &#x2612;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes &#x2612;&nbsp;&nbsp;&nbsp;&nbsp;No &#x2610;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulations S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes &#x2612;&nbsp;&nbsp;&nbsp;&nbsp;No &#x2610;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Indicate by check mark if disclosure of delinquent filers pursuant to Item&nbsp;405 of Regulation S-K (&#xA7;229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant&#x2019;s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.&nbsp;&nbsp;&#x2612;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &#x201C;large accelerated filer,&#x201D; &#x201C;accelerated filer,&#x201D; &#x201C;smaller reporting company,&#x201D; and &#x201C;emerging growth company&#x201D; in Rule 12b-2 of the Exchange Act.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Large accelerated filer&nbsp;&nbsp;</b><b>&#x2610;</b></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 30%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Accelerated&nbsp;filer&nbsp;&nbsp;</b><b>&#x2610;</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Non-accelerated filer&nbsp;&nbsp; </b><b>&#x2610;</b></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 30%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Smaller&nbsp;reporting&nbsp;company&nbsp;&nbsp;&nbsp;</b>&#x2612;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 30%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Emerging growth Company&nbsp;&nbsp;</b><b>&#x2610;</b></p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&#x2610;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.) Yes &#x2610;&nbsp;&nbsp;&nbsp;&nbsp;No &#x2612;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 18.0pt; font: 10pt Times New Roman, Times, Serif;">Based on the last sale at the close of business on June&nbsp;30, 2019, the aggregate market value of the registrant&#x2019;s common stock held by non-affiliates of the registrant was approximately $17,795,030 The basis of the calculation does not constitute a determination by the Registrant as defined in Rule 405 of the Securities Act of 1933, as amended, such calculation, if made as of a date within sixty days of this filing, would yield a different value.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As of March 25, 2020, there were 15,997,076 shares of common stock outstanding.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Documents Incorporated By Reference:</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Consolidated Financial Statements of Income Opportunity Realty Investors, Inc.; Commission File No.&nbsp;001-14784</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Consolidated Financial Statements of Transcontinental Realty Investors, Inc.; Commission File No.&nbsp;001-09240</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>INDEX TO</b>&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>ANNUAL REPORT ON FORM 10-K</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Page</b></font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka001"><b>PART I</b></a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 10%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka002">Item 1.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; width: 82%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka002">Business</a></font>
                </p>
            </td>
            <td style="padding: 0pt; width: 2%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; width: 6%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka003">Item&nbsp;1A.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka003">Risk Factors</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">9</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka004">Item 1B.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka004">Unresolved Staff Comments</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">15</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka005">Item 2.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka005">Properties</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">16</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka006">Item 3.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka006">Legal Proceedings</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">19</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka007">Item 4.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka007">Mine Safety Disclosures</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">20</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka008"><b>PART II</b></a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka009">Item 5.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka009">Market for Registrant&#x2019;s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">21</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka010">Item 6.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka010">Selected Financial Data</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">23</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka011">Item 7.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka011">Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">24</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka012">Item 7A.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka012">Quantitative and Qualitative Disclosures About Market Risk</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">36</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka013">Item 8.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka013">Consolidated Financial Statements and Supplementary Data</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">38</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka014">Item 9.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka014">Changes in and Disagreements with Accountants on Accounting and Financial Disclosure</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">76</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka015">Item&nbsp;9A.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka015">Controls and Procedures</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">76</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka016">Item 9B.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka016">Other Information</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">76</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka017"><b>PART III</b></a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka018">Item 10.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka018">Directors, Executive Officers and Corporate Governance</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">77</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka019">Item 11.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka019">Executive Compensation</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">84</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka020">Item 12.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka020">Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">85</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka021">Item 13.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka021">Certain Relationships and Related Transactions, and Director Independence</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">87</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka022">Item 14.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka022">Principal Accounting Fees and Services</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">89</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka023"><b>PART IV</b></a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka024">Item 15.</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka024">Exhibits, Financial Statement Schedules</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">91</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#a_001">Item 16.</a> &nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#a_001">Form 10-K Summary</a> &nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font> 92</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><a href="#arl10ka025">Signature Page</a></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">93</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>FORWARD-LOOKING STATEMENTS</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Certain Statements in this Form 10-K are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section&nbsp;27A of the Securities Act of 1933, and Section&nbsp;21E of the Securities Exchange Act of 1934. The words &#x201C;estimate,&#x201D; &#x201C;plan,&#x201D; &#x201C;intend,&#x201D; &#x201C;expect,&#x201D; &#x201C;anticipate,&#x201D; &#x201C;believe,&#x201D; and similar expressions are intended to identify forward-looking statements. The forward-looking statements are found at various places throughout this Report and in the documents incorporated herein by reference. The Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved. Important factors that could cause our actual results to differ from estimates or projections contained in any forward-looking statements are described in Part I, Item&nbsp;1A. &#x201C;Risk Factors&#x201D;.</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>P<a name="arl10ka001"></a>ART I</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>I<a name="arl10ka002"></a>TEM&nbsp;1.</b></p>
            </td>
            <td style="padding: 0pt; width: 92%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>BUSINESS</b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>General</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As used herein, the terms &#x201C;ARL,&#x201D; &#x201C;the Company,&#x201D; &#x201C;We,&#x201D; &#x201C;Our,&#x201D; or &#x201C;Us&#x201D; refer to American Realty Investors, Inc., a Nevada corporation, which was formed in 1999.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company is headquartered in Dallas, Texas and its common stock is listed and trades on the New York Stock Exchange (&#x201C;NYSE&#x201D;) under the symbol &#x201C;ARL&#x201D;. Over 80% of ARL&#x2019;s stock is owned by related parties. ARL and a subsidiary own approximately 78.38% of the outstanding shares of common stock of Transcontinental Realty Investors, Inc. (&#x201C;TCI&#x201D;), a Nevada corporation, which has its common stock listed and traded on the NYSE under the symbol &#x201C;TCI&#x201D;. TCI&#x2019;s financial results are consolidated with those of ARL. In 2012, May Realty Holdings, Inc. (&#x201C;MRHI&#x201D;) subsidiaries acquired more than 80% of ARL stock and as a result, ARL is included in the MRHI consolidated group for federal income tax reporting. We have no employees.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">TCI owns approximately 81.23% of the common stock of Income Opportunity Realty Investors, Inc. (&#x201C;IOR&#x201D;). IOR&#x2019;s financial results are consolidated with those of TCI and its subsidiaries.&nbsp; Shares of IOR are listed and traded on the NYSE American under the symbol &#x201C;IOR&#x201D;.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL&#x2019;s Board of Directors are responsible for directing the overall affairs of ARL and for setting the strategic policies that guide the Company. As of April 30, 2011, the Board of Directors delegated the day-to-day management of the Company to Pillar Income Asset Management, Inc. (&#x201C;Pillar&#x201D;), a Nevada corporation, under a written Advisory Agreement that is reviewed annually by ARL&#x2019;s Board of Directors. The directors of ARL are also directors of TCI and four are also directors of IOR. The Chairman of the Board of Directors of ARL also serves as the Chairman of the Board of Directors of TCI and IOR. The executive officers of ARL also serve as officers of TCI, IOR and Pillar.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Pillar, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member of which is Realty Advisors, Inc. (&#x201C;RAI&#x201D;), a Nevada corporation, the sole shareholder of which is MRHI, a Nevada corporation, the sole shareholder of which is a trust known as the May Trust, became the Company&#x2019;s external contractual Advisor and Cash Manager.&nbsp; Pillar&#x2019;s duties include, but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities. Pillar also arranges, for the Company&#x2019;s benefit, debt and equity financing with third party lenders and investors. Pillar also serves as the contractual Advisor and Cash Manager to TCI and IOR.&nbsp; As the contractual advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; The Advisor&#x201D;.&nbsp; Employees of Pillar render services to ARL in accordance with the terms of the Advisory Agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Regis Realty Prime, LLC, dba Regis Property Management, LLC (&#x201C;Regis&#x201D;), manages our commercial properties and provides brokerage services. Regis receives property management fees, construction management fees and leasing commissions in accordance with the terms of its property-level management agreement. Regis is also entitled to receive real estate brokerage commissions in accordance with the terms of a non-exclusive brokerage agreement. See Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; Property Management and Real Estate Brokerage&#x201D;. &nbsp;ARL engages third-party companies to lease and manage its apartment properties.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Southern Properties Capital Ltd. a British Virgin Island corporation (&#x201C;Southern&#x201D; or &#x201C;SPC&#x201D;), is a wholly owned subsidiary of TCI that was incorporated on August 16, 2016 for the purpose of raising funds by issuing debentures (that cannot be converted into any other security) listed and traded on the Tel-Aviv Stock Exchange(&#x201C;TASE&#x201D;). Southern operates in the United States and is primarily involved in investing in, developing, constructing and operating income-producing properties of multi-family residential real estate assets. Southern is included in the consolidated financial statements of TCI.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On January 1, 2012, the Company&#x2019;s subsidiary, TCI, entered into a development agreement with Unified Housing Foundation, Inc. (&#x201C;UHF&#x201D;) a non-profit corporation that provides management services for the development of residential apartment projects in the future. This development agreement was terminated December 31, 2013. The Company has also invested in surplus cash notes receivables from UHF and has sold several residential apartment properties to UHF in prior years. Due to this ongoing relationship and the significant investment in the performance of the collateral secured under the notes receivable, UHF has been determined to be a related party.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On November 19, 2018, TCI executed an agreement between the Macquarie Group (&#x201C;Macquarie&#x201D;) and SPC and TCI to create a joint venture, Victory Abode Apartments, LLC (&#x201C;VAA&#x201D;) to address existing and future demand for quality multifamily residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. In connection with the formation of the joint venture, SPC and TCI contributed a portfolio of 49 income producing apartment complexes, and 3 development projects in various stages of construction and received cash consideration of $236.8 million. At the time of the transfer of the properties, the joint venture assumed all liabilities of those properties, including mortgage debt to the Department of Housing and Urban Development (&#x201C;HUD&#x201D;).</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">VAA is equally owned and controlled by Abode JVP, LLC, a wholly-owned subsidiary of SPC and Summerset Intermediate Holdings 2 LLC (&#x201C;Summerset&#x201D;), a wholly-owned indirect subsidiary of Macquarie.&nbsp; Pursuant to the Agreement, Abode JVP, LLC and Summerset each own voting and profit participation rights of 50% and 49%, respectively (&#x201C;Class A Members&#x201D;).&nbsp; The remaining 2% of the profit participation interest is held by Daniel J. Moos ARL&#x2019;s President and Chief Executive Officer (&#x201C;Class B Member&#x201D;) who also serves as the Manager of the joint venture.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL through subsidiaries invests in real estate through direct ownership, leases, and partnerships and also invests in mortgage loans on real estate. Our primary business is the acquisition, development and ownership of income-producing residential and commercial real estate. In addition, we opportunistically acquire land for future development in in-fill or high-growth suburban markets. From time to time and when we believe it appropriate to do so, we will also sell land and income-producing properties. We generate revenues by leasing apartment units to residents; and by leasing office, industrial and retail space to various for-profit businesses as well as certain local, state and federal agencies.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;At December 31, 2019, our portfolio of income-producing properties consisted of:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 3%;" valign="top"></td>
            <td style="width: 3%;" valign="top">
                <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="width: 94%;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Seven commercial properties consisting of five office buildings and two retail properties comprising in aggregate of approximately 1.7 million square feet;</p>
            </td>
        </tr>
    </table>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 3%; text-align: justify;" valign="top"></td>
            <td style="width: 3%; text-align: justify;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="text-align: justify;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Ten residential apartment communities owned directly by us comprising in 1,657 units, excluding apartments being developed;</p>
            </td>
        </tr>
    </table>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 3%; text-align: justify;" valign="top"></td>
            <td style="width: 3%; text-align: justify;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="text-align: justify;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Approximately 1,951 acres of developed and undeveloped land; and</p>
            </td>
        </tr>
    </table>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 3%; text-align: justify;" valign="top"></td>
            <td style="width: 3%; text-align: justify;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="text-align: justify;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Fifty-one residential apartment communities totaling 9,888 units owned by our 50% owned investee VAA.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">The following table sets forth the location of our real estate held for investment (income-producing properties only) by asset type as of December&nbsp;31, 2019:</p>
    <table style="margin: 0px; width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td colspan="2" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;" colspan="2" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;" colspan="2" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;" colspan="2" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;" colspan="2" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;" colspan="2" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000;" colspan="6" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Apartments<br>(Company owned)</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt;" colspan="6" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Apartments <br>(VAA owned)</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt;" colspan="6" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Commercial <br>(Company owned)</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="border-bottom: Black 1pt solid; padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Location</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">No.</font></font></b></p>
            </td>
            <td style="text-align: right;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: right;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; text-align: right;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Units</font></font></b></p>
            </td>
            <td style="text-align: right;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: right;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; text-align: right;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">No.</font></font></b></p>
            </td>
            <td style="text-align: right;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: right;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; text-align: right;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Units</font></font></b></p>
            </td>
            <td style="text-align: right;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: right;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; text-align: right;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">No.</font></font></b></p>
            </td>
            <td style="text-align: right;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: right;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; text-align: right;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">SF</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 24%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Alabama</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">200</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">168</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Arkansas</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">5</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,122</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Colorado</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">260</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Florida</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">33</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">388</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">6,722</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Georgia</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">222</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Louisiana</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">384</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">464</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Mississippi</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">400</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">196</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">North Carolina</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">201</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Nevada</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">308</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Tennessee</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">144</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">4</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">708</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Texas-Greater Dallas-Ft Worth</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">19</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,709</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">4</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,473,634</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Texas-Greater Houston</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">416</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">95,329</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Texas-Other</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">496</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">9</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,726</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Wisconsin</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">122,205</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Total</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">10</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">1,657</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">51</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">9,888</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">7</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">1,697,890</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We finance our acquisitions primarily through operating cash flow, proceeds from the sale of land and income-producing properties and debt financing primarily in the form of property-specific, first-lien mortgage loans from commercial banks and institutional lenders. We finance our development projects principally with short-term, variable-rate construction loans that are refinanced with the proceeds of long-term, fixed-rate amortizing mortgages when the development has been completed and occupancy has been stabilized. When we sell properties, we may carry a portion of the sales price generally in the form of a short-term, interest bearing seller-financed note receivable, secured by the property being sold. We may also from time to time enter into partnerships or joint ventures with various investors to acquire land or income-producing properties or to sell interests in some of our properties.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We join with third-party development companies to construct residential apartment communities. At December 31, 2019, TCI and VAA had five and one apartment projects in development. The third-party developer typically holds a general partner, as well as a limited partner interest in a limited partnership formed for the purpose of building a single property, while we generally take a limited partner interest in the limited partnership. We may contribute land to the partnership as part of our equity contribution or we may contribute the necessary funds to the partnership to acquire the land. We are required to fund all required equity contributions while the third-party developer is responsible for obtaining construction financing, hiring a general contractor and for the overall management, successful completion, initial lease-up and delivery of the project. We generally bear all the economic risks and rewards of ownership in these partnerships and therefore include these partnerships in our consolidated financial statements. The third-party developer is paid a developer fee typically equal to a percentage of the construction costs. When the project reaches stabilized occupancy, we acquire the third-party developer&#x2019;s partnership interests in exchange for any remaining unpaid developer fees.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">At December 31, 2019, our apartment projects in development included (dollars in thousands):</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 99%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b><font style="color: black;"><font style="color: black;">Property</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Location</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">No. of Units</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;">Costs to Date&nbsp;<sup>(1)</sup></font></b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;">Total Projected Costs&nbsp;<sup>(1)</sup></font></b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 44%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Sugar Mill III</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 15%; text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Addis, LA</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">72</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">7,417,244</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">10,014,582</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Parc at Denham Springs Phase II</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Denham Springs, LA</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">144</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">17,791,765</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">18,767,871</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Forest Pines II (Forest Grove)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Bryan, TX</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">84</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">4,843,342</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">11,258,990</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">LD Athens</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Athens, Al</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">232</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">81,372</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">30,519,021</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">McKinney Heritage</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: none; text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">McKinney, TX</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">176</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">88,931</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">24,767,176</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"><b>Total</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: none;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"><b>708</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"><b>30,222,654</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"><b>95,327,640</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><sup>(1)</sup>&nbsp;Costs include construction hard costs, construction soft costs and loan borrowing costs.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 5; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->5
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We have made investments in a number of large tracts of undeveloped and partially developed land and intend to continue to improve these tracts of land for our own development purposes or make the improvements necessary to ready the land for sale to other developers.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">At December&nbsp;31, 2019, our investments in undeveloped and partially developed land consisted of the following (dollars in thousands):&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 80%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Location</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Acquired</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Acres</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Cost</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; vertical-align: top; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Intended Use</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-right: 0pt; width: 29%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, TX</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1996-2013</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">11.57</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,057</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Mixed use</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-right: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Farmers Branch, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2008</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">60.62</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">10,966</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Mixed use</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-right: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Kaufman County, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2011</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,781.83</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">49,238</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Mixed use</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding-bottom: 1pt; padding-left: 0pt; padding-right: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1990-2008</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">96.97</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,742</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 0pt; padding-right: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Total Land Holdings</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;"></td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;"></td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>1,950.99</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>70,003</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Significant Real Estate Acquisitions/Dispositions and Financings</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following is a description of the Company&#x2019;s significant real estate and financing transactions (through TCI) during the year ended December 31 2019:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 3%;" valign="top"></td>
            <td style="width: 3%;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Sold 35.9 acres of land located in Farmers Branch, Texas for an aggregate sales price of $18.9 million and recognized a gain on the sale of $9.0 million.</p>
            </td>
        </tr>
    </table>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 3%;" valign="top"></td>
            <td style="width: 3%;" valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Sold 29.4 acres of land located in Forney, Texas for a total sales price of $5.0 million and recognized a gain on the sale of approximately $4.1 million.</p>
            </td>
        </tr>
    </table>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 3%; vertical-align: top;"></td>
            <td style="width: 3%; vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Sold 10.33 acres of land located in Dallas, Texas for a total sales price of $2.1 million and recognized a gain on the sale of approximately $0.4 million.</p>
            </td>
        </tr>
    </table>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 3%; vertical-align: top;"></td>
            <td style="width: 3%; vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Sold 6.25 acres of land located in Nashville, Tennessee for a total sales price of $2.3 million and recognized a gain on the sale of approximately $0.9 million.</p>
            </td>
        </tr>
    </table>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 3%; vertical-align: top;"></td>
            <td style="width: 3%; vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Sold 23.24 acres of land located in Fort Worth, Texas for a total sales price of $1.8 million and recognized a gain on the sale of approximately $0.5 million.</p>
            </td>
        </tr>
    </table>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 3%; vertical-align: top;"></td>
            <td style="width: 3%; vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Sold a multifamily residential property, located in Mary Ester, Florida for a total sales price of $3.1 million out of which $1.8 million represents land received with a total acreage of 1.27 acres located in Riverside, California in exchange for a note receivable of the same value. The Company recognized a loss from this sale of approximately $0.08 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 3%; vertical-align: top;"></td>
            <td style="width: 3%; vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">&#x25CF;</p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Purchased 33.05 acres of land in Athens, Alabama for a total purchase price of $2.1 million, out of which $0.9 million was paid in cash and the remaining balance of $1.2 million was issued as a note payable. The note payable matures in eighteen months and bears an annual interest rate of 5.91%.</p>
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                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Purchased from a third party 8.94 acres of land located in Collin County, Texas for a total purchase price of $2.5 million.</p>
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                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Purchased an option to buy 37.8 acres of land (6.3 acres located in Collin County, Texas and 31.5 acres located in Clark County, Nevada) for $2.0 million from a third party land developer.</p>
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                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Sold fresh water district receivables related to infrastructure development work, located in Kaufman County, Texas for $12.0 million. No gain or loss was recognized from the sale of these receivables.</p>
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                <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Purchased notes receivables from related parties for an aggregate purchase price of $29.0 million. No gain or loss was recognized from the purchase of the notes receivables (refer to Note 5).</p>
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                <p style="margin: 0px; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">Issued Series C bonds on the TASE in the amount of NIS 275 million (or approximately $78.1 million), bearing an annual interest of 4.65%. The interest will be paid on January 31 and July 31 of each of the years 2020 through 2023, with the bond principal payment due in 2023.&nbsp; From the proceeds from the sale of the Series C bonds the Company paid off the mortgage debt of $41.5 million related to one of its commercial buildings used as collateral for this issuance.</p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company continues to invest in the development of apartment projects. During the year ended December 31, 2019, ARL through its subsidiaries have invested $28.5 million related to the construction or predevelopment of various apartment complexes and capitalized $0.8 million of interest costs.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Business Plan and Investment Policy</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our business objective is to maximize long-term value for our stockholders by investing in residential and commercial real estate through the acquisition, development and ownership of apartments, commercial properties, and land. We intend to achieve this objective through acquiring and developing properties in multiple markets and operating as an industry-leading landlord. We believe this objective will provide the benefits of enhanced investment opportunities, economies of scale and risk diversification, both in terms of geographic market and real estate product type. We believe our objective will also result in continuing access to favorably priced debt and equity capital. In pursuing our business objective, we seek to achieve a combination of internal and external growth while maintaining a strong balance sheet and employing a strategy of financial flexibility. We maximize the value of our apartments and commercial properties by maintaining high occupancy levels while charging competitive rental rates, controlling costs and focusing on tenant retention. We also pursue attractive development opportunities either directly or in partnership with other investors.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For our portfolio of commercial properties, we generate increased operating cash flow through annual contractual increases in rental rates under existing leases. We also seek to identify best practices within our industry and across our business units in order to enhance cost savings and gain operating efficiencies. We employ capital improvement and preventive maintenance programs specifically designed to reduce operating costs and increase the long-term value of our real estate investments.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We seek to acquire properties consistent with our business objectives and strategies. We execute our acquisition strategy by purchasing properties which management believes will create stockholder value over the long-term. We will also sell properties when management believes value has been maximized or when a property is no longer considered an investment to be held long-term.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We are continuously in various stages of discussions and negotiations with respect to development, acquisition, and disposition projects. The consummation of any current or future development, acquisition, or disposition, if any, and the pace at which any may be completed cannot be assured or predicted.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Substantially all of our properties are owned by subsidiary companies, many of which are single-asset entities. This ownership structure permits greater access to financing for individual properties and permits flexibility in negotiating a sale of either the asset or the equity interests in the entity owning the asset. From time-to-time, our subsidiaries have invested in joint ventures with other investors, creating the possibility of risks that do not exist with properties solely owned by an ARL subsidiary. In those instances where other investors are involved, those other investors may have business, economic, or other objectives that are inconsistent with our objectives, which may in turn require us to make investment decisions different from those if we were the sole owner.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Real estate generally cannot be sold quickly. We may not be able to promptly dispose of properties in response to economic or other conditions. To offset this challenge, selective dispositions have been a part of our strategy to maintain an efficient investment portfolio and to provide additional sources of capital. We finance acquisitions through mortgages, internally generated funds, and, to a lesser extent, property sales. Those sources provide the bulk of funds for future acquisitions. We may purchase properties by assuming existing loans secured by the acquired property. When properties are acquired in such a manner, we customarily seek to refinance the asset in order to properly leverage the asset in a manner consistent with our investment objectives.</p>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our businesses are not generally seasonal with regard to real estate investments. Our investment strategy seeks both current income and capital appreciation. Our plan of operation is to continue, to the extent our liquidity permits, to make equity investments in income-producing real estate such as apartments, and commercial properties. We may also invest in the debt or equity securities of real estate-related entities. We intend to pursue higher risk, higher reward investments, such as improved and unimproved land where we can obtain reasonably-priced financing for substantially all of a property&#x2019;s purchase price. We intend to continue the development of apartment properties in selected markets in Texas and in other locations where we believe adequate levels of demand exist. We intend to pursue sales opportunities for properties in stabilized real estate markets where we believe our properties&#x2019; value has been maximized. We also intend to be an opportunistic seller of properties in markets where demand exceeds current supply. Although we no longer actively seek to fund or purchase mortgage loans, we may, in selected instances, originate mortgage loans or we may provide purchase money financing in conjunction with a property sale.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our Board of Directors has broad authority under our governing documents to make all types of investments, and we may devote available resources to particular investments or types of investments without restriction on the amount or percentage of assets that may be allocated to a single investment or to any particular type of investment, and without limit on the percentage of securities of any one issuer that may be acquired. Investment objectives and policies may be changed at any time by the Board without stockholder approval.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The specific composition from time-to-time of our real estate portfolio owned by ARL directly and through our subsidiaries depends largely on the judgment of management to changing investment opportunities and the level of risk associated with specific investments or types of investments. We intend to maintain a real estate portfolio that is diversified by both location and type of property.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Competition</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The real estate business is highly competitive and we compete with numerous companies engaged in real estate activities (including certain entities described in Part III, Item&nbsp;13. &#x201C;Certain Relationships and Related Transactions, and Director Independence&#x201D;), some of which have greater financial resources than ARL. We believe that success against such competition is dependent upon the geographic location of a property, the performance of property-level managers in areas such as leasing and marketing, collection of rents and control of operating expenses, the amount of new construction in the area and the maintenance and appearance of the property. Additional competitive factors include ease of access to a property, the adequacy of related facilities such as parking and other amenities, and sensitivity to market conditions in determining rent levels. With respect to apartments, competition is also based upon the design and mix of the units and the ability to provide a community atmosphere for the residents. We believe that beyond general economic circumstances and trends, the degree to which properties are renovated or new properties are developed in the competing submarket are also competitive factors. See also Part I, Item&nbsp;1A. &#x201C;Risk Factors&#x201D;.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">To the extent that ARL seeks to sell any of its properties, the sales prices for the properties may be affected by competition from other real estate owners and financial institutions also attempting to sell properties in areas where ARL&#x2019;s properties are located, as well as aggressive buyers attempting to dominate or penetrate a particular market.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As described above and in Part III, Item&nbsp;13. &#x201C;Certain Relationships and Related Transactions, and Director Independence,&#x201D; the officers and directors of ARL serve as officers and directors of TCI and IOR. TCI and IOR have business objectives similar to those of ARL. ARL&#x2019;s officers and directors owe fiduciary duties to both IOR and TCI as well as to ARL under applicable law. In determining whether a particular investment opportunity will be allocated to ARL, IOR, or TCI, management considers the respective investment objectives of each Company and the appropriateness of a particular investment in light of each Company&#x2019;s existing real estate and mortgage notes receivable portfolio. To the extent that any particular investment opportunity is appropriate to more than one of the entities, the investment opportunity may be allocated to the entity which has had funds available for investment for the longest period of time, or, if appropriate, the investment may be shared among all three or two of the entities.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In addition, as described in Part III, Item&nbsp;13. &#x201C;Certain Relationships and Related Transactions, and Director Independence,&#x201D; ARL competes with related parties of Pillar having similar investment objectives related to the acquisition, development, disposition, leasing and financing of real estate and real estate-related investments. In resolving any potential conflicts of interest which may arise, Pillar has informed ARL that it intends to exercise its best judgment as to what is fair and reasonable under the circumstances in accordance with applicable law.</p>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We have historically engaged in and will continue to engage in certain business transactions with related parties, including but not limited to asset acquisitions and dispositions. Transactions involving related parties cannot be presumed to be carried out on an arm&#x2019;s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in the best interests of the Company.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Available Information</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL maintains an Internet site at&nbsp;<u>www.americanrealtyinvest.com</u>. Available through the website, free of charge, are Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, reports filed pursuant to Section&nbsp;16, and amendments to those reports, as soon as reasonably practicable after they are electronically filed or furnished to the Securities and Exchange Commission. In addition, we have posted the charters for the Audit Committee, Compensation Committee, and Governance and Nominating Committee, as well as the Code of Business Conduct and Ethics, Corporate Governance Guidelines on Director Independence, and other information on the website. These charters and principles are not incorporated in this report by reference. We will also provide a copy of these documents free of charge to stockholders upon written request. The Company issues Annual Reports containing audited financial statements to its common shareholders.</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka003"></a>ITEM 1A.</b></p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><i><b>RISK FACTORS</b></i>
                    </b>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">An investment in our securities involves various risks. All investors should carefully consider the following risk factors applicable to ARL and its subsidiaries in conjunction with the other information in this report before trading our securities.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Risk Factors Related to our Business</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><strong><em>&nbsp;</em></strong></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><strong><em>Our business may be impacted as a result of the pandemic impact the coronavirus (&#x201C;COVID 19&#x201D;) may have in the U.S. and global economy.</em></strong></p>
    <p style="margin-bottom: .0001pt; line-height: normal; text-align: justify;">
        <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">During 2020, a strain of coronavirus (&#x201C;COVID &#x2013; 19&#x201D;) was reported worldwide, resulting in decreased economic activity and concerns about the pandemic, which would adversely affect the broader global economy. The Company is taking all necessary steps to keep our business premises, tenants, vendors and employees in a safe environment and are constantly monitoring the impact of COVID &#x2013; 19.&nbsp; At this point, the extent to which COVID &#x2013; 19 may impact the global economy and our business is uncertain, but pandemics or other significant public health events could have a material adverse effect on our business and results of operations.</font>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Adverse events concerning our existing tenants or negative market conditions affecting our existing tenants could have an adverse impact on our ability to attract new tenants, release space, collect rent or renew leases, and thus could adversely affect cash flow from operations and inhibit growth.</b></i>
        </b>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Cash flow from operations depends in part on the ability to lease space to tenants on economically favorable terms. We could be adversely affected by various facts and events over which the Company has limited or no control, such as:</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">lack of demand for space in areas where the properties are located;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">inability to retain existing tenants and attract new tenants;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">oversupply of or reduced demand for space and changes in market rental rates;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">defaults by tenants or failure to pay rent on a timely basis;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
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            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the need to periodically renovate and repair marketable space;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">physical damage to properties;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">economic or physical decline of the areas where properties are located; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">potential risk of functional obsolescence of properties over time.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 9; Value: 2-->
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            &nbsp;</p>
    </div>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">At any time, any tenant may experience a downturn in its business that may weaken its financial condition. As a result, a tenant may delay lease commencement, fail to make rental payments when due, decline to extend a lease upon its expiration, become insolvent or declare bankruptcy. Any tenant bankruptcy or insolvency, leasing delay or failure to make rental payments when due could result in the termination of the tenant&#x2019;s lease and material losses to the Company.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">If tenants do not renew their leases as they expire, we may not be able to rent the space. Furthermore, leases that are renewed, and some new leases for space that is re-let, may have terms that are less economically favorable than expiring lease terms, or may require us to incur significant costs, such as renovations, tenant improvements or lease transaction costs. Any of these events could adversely affect cash flow from operations and our ability to make distributions to shareholders and service indebtedness. A significant portion of the costs of owning property, such as real estate taxes, insurance, and debt service payments, are not necessarily reduced when circumstances cause a decrease in rental income from the properties.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We may not be able to compete successfully with other entities that operate in our industry.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We experience a great deal of competition in attracting tenants for the properties and in locating land to develop and properties to acquire.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In our effort to lease properties, we compete for tenants with a broad spectrum of other landlords in each of the markets. These competitors include, among others, publicly-held REITs, privately-held entities, individual property owners and tenants who wish to sublease their space. Some of these competitors may be able to offer prospective tenants more attractive financial terms than we are able to offer.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">If the availability of land or high quality properties in our markets diminishes, operating results could be adversely affected.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We may experience increased operating costs which could adversely affect our financial results and the value of our properties</b></i>
        </b><i>.</i></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our properties are subject to increases in operating expenses such as insurance, cleaning, electricity, heating, ventilation and air conditioning, administrative costs and other costs associated with security, landscaping, repairs, and maintenance of the properties. While some current tenants are obligated by their leases to reimburse us for a portion of these costs, there is no assurance that these tenants will make such payments or agree to pay these costs upon renewal or new tenants will agree to pay these costs. If operating expenses increase in our markets, we may not be able to increase rents or reimbursements in all of these markets to offset the increased expenses, without at the same time decreasing occupancy rates. If this occurs, our ability to make distributions to shareholders and service indebtedness could be adversely affected.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;<b><i><b>Our ability to achieve growth in operating income depends in part on its ability to develop additional properties</b></i>
        </b><i>.</i></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We intend to continue to develop properties where warranted by market conditions. We have a number of ongoing development and land projects being readied for commencement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Additionally, general construction and development activities include the following risks:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">construction and leasing of a property may not be completed on schedule, which could result in increased expenses and construction costs, and would result in reduced profitability for that property;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">construction costs may exceed original estimates due to increases in interest rates and increased cost of materials, labor or other costs, possibly making the property less profitable because of inability to increase rents to compensate for the increase in construction costs;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">some developments may fail to achieve expectations, possibly making them less profitable;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may be unable to obtain, or face delays in obtaining, required zoning, land-use, building, occupancy, and other governmental permits and authorizations, which could result in increased costs and could require us to abandon our activities entirely with respect to a project;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may abandon development opportunities after the initial exploration, which may result in failure to recover costs already incurred. If we determine to alter or discontinue its development efforts, future costs of the investment may be expensed as incurred rather than capitalized and we may determine the investment is impaired resulting in a loss;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may expend funds on and devote management&#x2019;s time to projects which will not be completed; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">occupancy rates and rents at newly-completed properties may fluctuate depending on various factors including market and economic conditions, and may result in lower than projected rental rates and reduced income from operations.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We face risks associated with property acquisitions</b></i>
        </b><i>.</i></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We acquire individual properties and various portfolios of properties and intend to continue to do so. Acquisition activities are subject to the following risks:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">when we are able to locate a desired property, competition from other real estate investors may significantly increase the seller&#x2019;s offering price;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">acquired properties may fail to perform as expected;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the actual costs of repositioning or redeveloping acquired properties may be higher than original estimates;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">acquired properties may be located in new markets where we face risks associated with an incomplete knowledge or understanding of the local market, a limited number of established business relationships in the area and a relative unfamiliarity with local governmental and permitting procedures; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may be unable to quickly and efficiently integrate new acquisitions, particularly acquisitions of portfolios of properties, into existing operations, and results of operations and financial condition could be adversely affected.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We may acquire properties subject to liabilities and without any recourse, or with limited recourse, with respect to unknown liabilities. However, if an unknown liability was later asserted against the acquired properties, we might be required to pay substantial sums to settle it, which could adversely affect cash flow.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Many of our properties are concentrated in our primary markets and the Company may suffer economic harm as a result of adverse conditions in those markets.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our properties are located principally in specific geographic areas in the southwestern, southeastern, and mid-western United States. The Company&#x2019;s overall performance is largely dependent on economic conditions in those regions.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Our investments in joint ventures may decrease our ability to manage risk.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We conduct some of our operations through a joint venture in which we share control over certain economic and business interests with our joint venture partner. Our joint venture partner may have economic, business or legal interests or goals that are inconsistent with our goals and interests or may be unable to meet their obligations. Failure by us, or an entity in which we have a joint-venture interest, to adequately manage the risks associated with any acquisitions or joint ventures could have a material adverse effect on the financial condition or results of operations of our joint ventures and adversely affect our business, financial condition, results of operations and cash flows.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->11
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We are leveraged and may not be able to meet our debt service obligations.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We had total indebtedness, including bonds and notes payable, at December&nbsp;31, 2019 of approximately&nbsp;
        <font style="background: white;">$501.7&nbsp;</font>million. Substantially all assets have been pledged to secure debt. These borrowings increase the risk of loss because they represent a prior claim on assets and most require fixed payments regardless of profitability. Our leveraged position makes us vulnerable to declines in the general economy and may limit the Company&#x2019;s ability to pursue other business opportunities in the future.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We may not be able to access financial markets to obtain capital on a timely basis, or on acceptable terms.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We rely on proceeds from property dispositions and third party capital sources for a portion of our capital needs, including capital for acquisitions and development. The public debt and equity markets are also among the sources upon which the Company relies. There is no guarantee that we will be able to access these markets or any other source of capital. The ability to access the public debt and equity markets depends on a variety of factors, including:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">general economic conditions affecting these markets;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">our own financial structure and performance;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the market&#x2019;s opinion of real estate companies in general; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the market&#x2019;s opinion of real estate companies that own similar properties.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We may suffer adverse effects as a result of terms and covenants relating to the Company&#x2019;s indebtedness.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Required payments on our indebtedness generally are not reduced if the economic performance of the portfolio declines. If the economic performance declines, net income, cash flow from operations and cash available for distribution to stockholders may be reduced. If payments on debt cannot be made, we could sustain a loss or suffer judgments, or in the case of mortgages, suffer foreclosures by mortgagees. Further, some obligations contain cross-default and/or cross-acceleration provisions, which means that a default on one obligation may constitute a default on other obligations.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We anticipate only a small portion of the principal of our debt will be repaid prior to maturity. Therefore, we are likely to refinance a portion of our outstanding debt as it matures. There is a risk that we may not be able to refinance existing debt or the terms of any refinancing will not be as favorable as the terms of the maturing debt. If principal balances due at maturity cannot be refinanced, extended, or repaid with proceeds from other sources, such as the proceeds of sales of assets or new equity capital, cash flow may not be sufficient to repay all maturing debt in years when significant &#x201C;balloon&#x201D; payments come due.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our credit facilities and unsecured debt contain customary restrictions, requirements and other limitations on the ability to incur indebtedness, including total debt to asset ratios, secured debt to total asset ratios, debt service coverage ratios, and minimum ratios of unencumbered assets to unsecured debt. Our continued ability to borrow is subject to compliance with financial and other covenants. In addition, failure to comply with such covenants could cause a default under credit facilities, and we may then be required to repay such debt with capital from other sources. Under those circumstances, other sources of capital may not be available, or be available only on terms that are detrimental to the Company.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Our degree of leverage could limit our ability to obtain additional financing or affect the market price of our common stock.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The degree of leverage could affect our ability to obtain additional financing for working capital, capital expenditures, acquisitions, development or other general corporate purposes. The degree of leverage could also make us more vulnerable to a downturn in business or the general economy.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>An increase in interest rates would increase interest costs on variable rate debt and could adversely impact the ability to refinance existing debt.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We currently have, and may incur more, indebtedness that bears interest at variable rates. Accordingly, if interest rates increase, so will the interest costs, which could adversely affect cash flow and the ability to pay principal and interest on our debt and the ability to make distributions to shareholders. Further, rising interest rates could limit our ability to refinance existing debt when it matures.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Unbudgeted capital expenditures or cost overruns could adversely affect business operations and cash flow</b></i>
        </b><i>.</i></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">If capital expenditures for ongoing or planned development projects or renovations exceed expectations, the additional cost of these expenditures could have an adverse effect on business operations and cash flow. In addition, we might not have access to funds on a timely basis to pay for the unexpected expenditures.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Construction costs are funded in large part through construction financing, which the Company may guarantee. The Company&#x2019;s obligation to pay interest on this financing continues until the rental project is completed, leased-up and permanent financing is obtained, or the project is sold, or the construction loan is otherwise paid. Unexpected delays in completion of one or more ongoing projects could also have a significant adverse impact on business operations and cash flow.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We may need to sell properties from time to time for cash flow purposes.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Because of the lack of liquidity of real estate investments generally, our ability to respond to changing circumstances may be limited. Real estate investments generally cannot be sold quickly. In the event that we must sell assets to generate cash flow, we cannot predict whether there will be a market for those assets in the time period desired, or whether we will be able to sell the assets at a price that will allow the Company to fully recoup its investment. We may not be able to realize the full potential value of the assets and may incur costs related to the early extinguishment of the debt secured by such assets.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>We intend to devote resources to the development of new projects.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We plan to continue developing new projects as opportunities arise in the future. Development and construction activities entail a number of risks, including but not limited to the following:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may abandon a project after spending time and money determining its feasibility;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">construction costs may materially exceed original estimates;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the revenue from a new project may not be enough to make it profitable or generate a positive cash flow;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may not be able to obtain financing on favorable terms for development of a property, if at all; &nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may not complete construction and lease-ups on schedule, resulting in increased development or carrying costs; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">we may not be able to obtain, or may be delayed in obtaining, necessary governmental permits.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>The overall business is subject to all of the risks associated with the real estate industry</b></i>
        </b><i>.</i></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We are subject to all risks incident to investment in real estate, many of which relate to the general lack of liquidity of real estate investments, including, but not limited to:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">our real estate assets are concentrated primarily in the southwest and any deterioration in the general economic conditions of this region could have an adverse effect;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">changes in interest rates may make the ability to satisfy overall debt service requirements more burdensome;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 13; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->13
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">lack of availability of financing may render the purchase, sale or refinancing of a property more difficult or unattractive;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">changes in real estate and zoning laws;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">increases in real estate taxes and insurance costs;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">federal or local regulations or rent controls;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">acts of terrorism, and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">hurricanes, tornadoes, floods, earthquakes and other similar natural disasters.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Our performance and value are subject to risks associated with our real estate assets and with the real estate industry.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our economic performance and the value of our real estate assets, and consequently the value of our securities, are subject to the risk that if our properties do not generate revenues sufficient to meet our operating expenses, including debt service and capital expenditures, our cash flow will be adversely affected. The following factors, among others, may adversely affect the income generated by our properties:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">downturns in the national, regional and local economic conditions (particularly increases in unemployment);</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">competition from other office, apartment and commercial buildings;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">local real estate market conditions, such as oversupply or reduction in demand for office, apartments or other commercial space;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">changes in interest rates and availability of financing;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">vacancies, changes in market rental rates and the need to periodically repair, renovate and re-let space;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">increased operating costs, including insurance expense, utilities, real estate taxes, state and local taxes and heightened security costs;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">civil disturbances, earthquakes and other natural disasters, or terrorist acts or acts of war which may result in uninsured or underinsured losses;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">significant expenditures associated with each investment, such as debt service payments, real estate taxes, insurance and maintenance costs which are generally not reduced when circumstances cause a reduction in revenues from a property;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">declines in the financial condition of our tenants and our ability to collect rents from our tenants; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">decreases in the underlying value of our real estate.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Adverse economic and geopolitical conditions and dislocations in the credit markets could have a material adverse effect on our results of operations, and financial condition.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our business may be affected by market and economic challenges experienced by the U.S. economy or real estate industry as a whole or by the local economic conditions in the markets in which our properties are located, including the current dislocations in the credit markets and general global economic recession. These current conditions, or similar conditions existing in the future, may adversely affect our results of operations, and financial condition as a result of the following, among other potential consequences:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the financial condition of our tenants may be adversely affected which may result in tenant defaults under leases due to bankruptcy, lack of liquidity, operational failures or for other reasons;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">significant job losses within our tenants may occur, which may decrease demand for our office space, causing market rental rates and property values to be negatively impacted;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">our ability to borrow on terms and conditions that we find acceptable, or at all, may be limited, which could reduce our ability to pursue acquisition and development opportunities and refinance existing debt, reduce our returns from our acquisition and development activities and increase our future interest expense;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">reduced values of our properties may limit our ability to dispose of assets at attractive prices or to obtain debt financing secured by our properties and may reduce the availability of unsecured loans; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td style="padding: 0pt; width: 94%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">one or more lenders could refuse to fund their financing commitment to us or could fail and we may not be able to replace the financing commitment of any such lenders on favorable terms, or at all.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Real estate investments are illiquid, and the Company may not be able to sell properties if and when it is appropriate to do so.</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Real estate generally cannot be sold quickly. We may not be able to dispose of properties promptly in response to economic or other conditions. In addition, provisions of the Internal Revenue Code may limit our ability to sell properties (without incurring significant tax costs) in some situations when it may be otherwise economically advantageous to do so, thereby adversely affecting returns to stockholders and adversely impacting our ability to meet our obligations.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 8%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka004"></a>ITEM&nbsp;1B.</b></p>
            </td>
            <td style="padding: 0pt; width: 92%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>UNRESOLVED STAFF COMMENTS</b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">None.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka005"></a>ITEM&nbsp;2.</b></p>
            </td>
            <td style="padding: 0pt; width: 92%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>PROPERTIES</b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On December&nbsp;31, 2019, our portfolio consisted of sixteen income-producing properties consisting of ten apartment communities totaling 1,657 units, seven commercial properties consisting of five office buildings and two retail centers. In addition, we own or control 1,951 acres of improved and unimproved land held for future development or sale.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The average annual rental and other property revenue per square foot is $13.36 for the Company&#x2019;s residential apartment portfolio and $25.61 for the commercial portfolio. Through our joint venture VAA we have a 50 percent ownership interest to a portfolio of fifty-one income-producing properties with a total of 9,888 units, which generated an average annual rental revenue of $14.74 per square foot.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The table below shows information relating to those properties in which we own or have an ownership interest through subsidiaries, all of which are suitable and adequate for the purpose for which each is utilized:&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px 0px 0px 0pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Residential Apartments</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Location</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Units</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Occupancy</b></font>
                </p>
            </td>
            <td style="border-bottom-style: none; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="width: 52%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Chelsea</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 20%; vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Beaumont, TX</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">144</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.97</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Farnham Park</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Port Arthur, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">144</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">95.83</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Landing Bayou</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Houma, LA</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">240</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">89.58</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Legacy at Pleasant Grove</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Texarkana, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">208</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">88.94</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Toulon </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Gautier, MS</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">240</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">98.33</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Villager </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Fort Walton, FL</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">33</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.91</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Villas at Bon Secour Apts</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Gulf Shores, AL</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">200</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">92.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Vista Ridge </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Tupelo, MS</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">160</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">93.13</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Overlook at Allensville Phase II</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sevierville, TN</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">144</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">89.58</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Parc at Denham Springs Phase II</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Denham Springs, LA</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">144</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.56</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>10</i></b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Total Apartment Units</i></b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>1,657</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px 0px 0px 0pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: #000000 1pt solid; padding-left: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Office Buildings</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: top; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Location</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding-left: 5.4pt; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>SqFt</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding-left: 5.4pt; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Occupancy</b></font>
                </p>
            </td>
            <td style="border-bottom-style: none; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 0pt; width: 52%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">600 Las Colinas</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 20%; vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Irving, TX</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">512,173</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">79.43</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">770 South Post Oak</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Houston, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">95,438</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">83.85</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Browning Place (Park West I)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Farmers Branch, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">625,297</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">87.03</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Senlac (VHP)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Farmers Branch, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,821</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">100.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Stanford Center</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">333,234</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.91</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>5</i></b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Total Office Buildings</i></b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>1,568,963</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px 0px 0px 0pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Retail Centers</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: top; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Location</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>SqFt</b></font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Occupancy</b></font>
                </p>
            </td>
            <td style="border-bottom-style: none; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="width: 52%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Bridgeview Plaza</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 20%; vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">LaCrosse, WI</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">122,205</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">37.25</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Fruitland Park</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Fruitland Park, FL</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,722</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">100.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>2</i></b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Total Retail Centers</i></b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>128,927</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">&nbsp;</td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Total Commercial</i></b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>1,697,890</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">Our joint venture investee VAA, owns the following residential properties:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="border-bottom: Black 0.5pt solid; width: 50%; text-align: center; font-weight: bold;">Residential Apartments</td>
            <td style="width: 2%; text-align: center; font-weight: bold;">&nbsp;</td>
            <td style="border-bottom: Black 0.5pt solid; width: 22%; text-align: center; font-weight: bold;">Location</td>
            <td style="width: 2%; text-align: center; font-weight: bold;">&nbsp;</td>
            <td style="border-bottom: Black 0.5pt solid; width: 13%; text-align: center; font-weight: bold;">Units</td>
            <td style="width: 2%; text-align: center; font-weight: bold;">&nbsp;</td>
            <td style="border-bottom: Black 0.5pt solid; width: 9%; text-align: center; font-weight: bold;">Occupancy</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Abode Red Rock Apartments</td>
            <td>&nbsp;</td>
            <td>Las Vegas, NV</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">308</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">83.04%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Apalachee Point Villas Apartments</td>
            <td>&nbsp;</td>
            <td>Tallahassee, FL</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">200</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">91.88%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Blue Lake Villas Apartments</td>
            <td>&nbsp;</td>
            <td>Waxahachie, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">186</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">90.78%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Blue Lake Villas Apartments Phase II</td>
            <td>&nbsp;</td>
            <td>Waxahachie, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">70</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">89.02%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Breakwater Bay Apartments.</td>
            <td>&nbsp;</td>
            <td>Beaumont, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">176</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">97.53%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Bridgewood Ranch Apartments</td>
            <td>&nbsp;</td>
            <td>Kaufman, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">106</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.39%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Capitol Hill Apartments</td>
            <td>&nbsp;</td>
            <td>Little Rock, AR</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">156</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">91.17%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Centennial Village Apartments</td>
            <td>&nbsp;</td>
            <td>Oak Ridge,TN</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">252</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.83%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Crossings at Opelika Apartments</td>
            <td>&nbsp;</td>
            <td>Opelika, AL</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">168</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">97.29%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Dakota Arms Apartments</td>
            <td>&nbsp;</td>
            <td>Lubbock, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">208</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">96.17%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Desoto Ranch Apartments</td>
            <td>&nbsp;</td>
            <td>DeSoto, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">248</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.61%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Eagle Crossing Apartments</td>
            <td>&nbsp;</td>
            <td>Dallas, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">150</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">97.63%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Falcon Lake Apartments</td>
            <td>&nbsp;</td>
            <td>Arlington, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">248</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">95.30%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Heather Creek Apartments</td>
            <td>&nbsp;</td>
            <td>Mesquite, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">200</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">96.64%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Lake Forest Apartments</td>
            <td>&nbsp;</td>
            <td>Humble, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">240</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">90.67%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Lakeside Lofts</td>
            <td>&nbsp;</td>
            <td>Farmers Branch, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">245</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">0.00%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Lodge at Pecan Creek Apartments</td>
            <td>&nbsp;</td>
            <td>Denton, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">192</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">95.04%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Lofts at Reynolds Apartments</td>
            <td>&nbsp;</td>
            <td>Asheville, NC</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">201</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">93.87%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Mansions Of Mansfield Apartments</td>
            <td>&nbsp;</td>
            <td>Mansfield, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">208</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">96.38%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>McKinney Point Apartments</td>
            <td>&nbsp;</td>
            <td>McKinney, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">198</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">91.96%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Metropolitan Apartments</td>
            <td>&nbsp;</td>
            <td>Little Rock, AR</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">260</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.40%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Mission Oaks Apartments</td>
            <td>&nbsp;</td>
            <td>San Antonio, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">228</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.17%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Northside on Travis Apartments</td>
            <td>&nbsp;</td>
            <td>Sherman, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">200</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">90.03%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Oak Hollow Phase I Apartments</td>
            <td>&nbsp;</td>
            <td>Seguin, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">160</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">88.08%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Oak Hollow Phase II Apartments</td>
            <td>&nbsp;</td>
            <td>Seguin, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">96</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">86.61%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Oceanaire Apartments</td>
            <td>&nbsp;</td>
            <td>Biloxi, MS</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">196</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.76%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Overlook At Allensville Square Apartments Phase I</td>
            <td>&nbsp;</td>
            <td>Sevierville, TN</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">144</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.66%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Parc at Wylie Apartments</td>
            <td>&nbsp;</td>
            <td>Wylie, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">198</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.09%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Parc at Bentonville Apartments</td>
            <td>&nbsp;</td>
            <td>Bentonville, AR</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">216</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.60%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Parc at Clarksville Apartments</td>
            <td>&nbsp;</td>
            <td>Clarksville, TN</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">168</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">91.45%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Parc at Denham Springs Apartments Phase I</td>
            <td>&nbsp;</td>
            <td>Denham Spring, LA</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">224</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">95.86%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Parc at Garland Apartments</td>
            <td>&nbsp;</td>
            <td>Garland, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">198</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.68%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Parc at Mansfield Apartments</td>
            <td>&nbsp;</td>
            <td>Mansfield, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">99</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.87%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Parc at Maumelle Apartments</td>
            <td>&nbsp;</td>
            <td>Little Rock, AR</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">240</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.51%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Parc at Metro Center Apartments</td>
            <td>&nbsp;</td>
            <td>Nashville, TN</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">144</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">97.48%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Parc at Rogers Apartments</td>
            <td>&nbsp;</td>
            <td>Rogers, AR</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">250</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.99%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Preserve at Pecan Creek Apartments</td>
            <td>&nbsp;</td>
            <td>Denton, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">192</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">89.65%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Preserve at Prairie Pointe Apartments</td>
            <td>&nbsp;</td>
            <td>Lubbock, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">184</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">95.94%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Residences at Holland Lake Apartments</td>
            <td>&nbsp;</td>
            <td>Weatherford, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">208</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.45%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Sawgrass Creek Apartments&nbsp;</td>
            <td>&nbsp;</td>
            <td>New Port Richey, FL</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">188</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">92.73%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Sonoma Court Apartments</td>
            <td>&nbsp;</td>
            <td>Rockwall, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">124</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">89.98%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Sugar Mill Apartments, Phase I</td>
            <td>&nbsp;</td>
            <td>Baton Rouge, LA</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">160</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">76.24%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Sugar Mill Apartments, Phase II</td>
            <td>&nbsp;</td>
            <td>Addis, LA</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">80</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">76.59%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Tattersall Village Apartments</td>
            <td>&nbsp;</td>
            <td>Hinesville, GA</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">222</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">93.76%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Terra Lago Apartments</td>
            <td>&nbsp;</td>
            <td>Rowlett, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">451</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">69.45%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Tradewinds Apartments</td>
            <td>&nbsp;</td>
            <td>Midland, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">214</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.36%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Villas of Park West Apartments Phase I</td>
            <td>&nbsp;</td>
            <td>Pueblo, CO</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">148</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">95.27%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Villas of Park West Apartments Phase II</td>
            <td>&nbsp;</td>
            <td>Pueblo, CO</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">112</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">93.77%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Vistas Of Vance Jackson Apartments</td>
            <td>&nbsp;</td>
            <td>San Antonio, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">240</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">94.50%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>Waterford at Summer Park Apartments</td>
            <td>&nbsp;</td>
            <td>Rosenberg, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">196</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">93.49%</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Windsong Apartments</td>
            <td>&nbsp;</td>
            <td>Fort Worth, TX</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">188</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">93.15%</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left; font-style: italic; font-weight: bold;">51</td>
            <td style="text-align: left; font-style: italic; font-weight: bold;">&nbsp;</td>
            <td style="text-align: left; font-weight: bold;">Total Apartment Units</td>
            <td style="text-align: left; font-weight: bold;">&nbsp;</td>
            <td style="border-bottom: Black 2pt double; border-top: Black 0.5pt solid; text-align: right; font-weight: bold;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,888</td>
            <td style="text-align: right; font-weight: bold;">&nbsp;</td>
            <td style="text-align: right;">&nbsp;</td>
        </tr>
        <tr style="vertical-align: bottom;">
            <td style="color: white; font-weight: bold;">&nbsp;</td>
            <td style="color: white; font-weight: bold;">&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">&nbsp;</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="border-bottom: Black 0.5pt solid; text-align: center; font-weight: bold;">Development Project</td>
            <td style="text-align: center; font-weight: bold;">&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">&nbsp;</td>
        </tr>
        <tr style="vertical-align: bottom;">
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">&nbsp;</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td>Lakeside Lofts Apartments</td>
            <td>&nbsp;</td>
            <td>Farmers Branch, TX</td>
            <td>&nbsp;</td>
            <td style="border-bottom: Black 0.5pt solid; text-align: right;">249</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">&nbsp;</td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td style="text-align: right;">&nbsp;</td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="text-align: center; font-weight: bold;">Grand total</td>
            <td style="text-align: center; font-weight: bold;">&nbsp;</td>
            <td>&nbsp;</td>
            <td>&nbsp;</td>
            <td style="border-bottom: Black 2pt double; text-align: right;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,137</td>
            <td style="text-align: right;">&nbsp;</td>
            <td style="text-align: right;">&nbsp;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;&nbsp;</p>
    <!-- Field: Page; Sequence: 17; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->17
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Commercial Lease Expirations</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The table below shows the lease expirations of the commercial properties over a&nbsp;
        <font style="background: white;">nine</font>-year period and thereafter:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-left: 5.4pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Year of Lease</b>
                        <br><b>Expiration</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Rentable Square Feet</b>
                        <br><b>Subject to Expiring Leases</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Current Annualized<sup>(1)</sup></b>
                        <br><b>Contractual Rent Under </b>
                        <br><b>Expiring Leases</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Current Annualized<sup>(1)</sup></b>
                        <br><b>Contractual</b>
                        <br><b>Rent Under Expiring</b>
                        <br><b>Leases (P.S.F.)</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Percentage of Total</b>
                        <br><b>Square Feet</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Percentage of Gross Rentals</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; width: 25%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 13%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2020</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">139,905</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,082,003</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22.03</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">8.2</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10.9</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2021</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">123,629</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,344,184</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">18.96</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">7.3</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">8.3</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2022</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">267,882</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5,981,809</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">22.33</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">15.8</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">21.1</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2023</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">362,224</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,035,138</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">16.66</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">21.3</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">21.3</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2024</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">271,071</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,010,250</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">22.17</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">16.0</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">21.2</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2025</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">125,667</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,909,360</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">23.15</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">7.4</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10.3</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2026</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">30,505</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">793,130</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">26.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1.8</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2.8</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Thereafter</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">56,926</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,152,892</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">20.25</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3.4</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">4.1</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="border-bottom: Black 2pt double; border-left: Black medium none; border-right: Black medium none; border-top: Black 1pt solid; padding-left: 5.4pt; padding-right: 5.4pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-top: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,377,809</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,308,766</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-top: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">81.2</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-top: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">100</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 1%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><sup>(1)</sup></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 0%;" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 98%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Represents the monthly contractual base rent and recoveries from tenants under existing leases as of December 31, 2019, multiplied by twelve. This amount reflects total rent before any rent abatements and includes expense reimbursements, which may be estimates as of such date.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">The table below shows information related to the land parcels we own as of December 31, 2019:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-left: 5.4pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; width: 34%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Land</b></font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; width: 34%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Location</b></font>
                </p>
            </td>
            <td style="width: 3%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; width: 8%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Acres</b></font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dedeaux</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Gulfport, MS</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">9.90</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dominion Mercer Phase II</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Farmers Branch, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.29</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Gautier</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Gautier, MS</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3.46</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Lacy Longhorn</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Farmers Branch, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">4.86</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Lake Shore Villas</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Humble, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1.35</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Lubbock </font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Lubbock, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2.87</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">McKinney 36</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Collin County, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">17.89</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Minivest</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.23</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Nicholson Croslin</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.80</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Nicholson Mendoza</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.35</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Ocean Estates</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Gulfport, MS</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">11.79</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">T Palm Desert</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Riverside, California </font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1.27</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Travis Ranch </font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Kaufman County, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">8.66</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Union Pacific Railroad </font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.04</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Willowick </font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Pensacola, FL</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">39.78</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Mercer Crossing</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Farmers Branch, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">19.00</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Windmills Farm </font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Kaufman County, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,701.05</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Total Land/Development</i></b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>&nbsp;</i></b></font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,828.59 </font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-left: 5.4pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; width: 34%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Land Subject to Sales Contract</font></font></b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">&nbsp;</font></font></b></p>
            </td>
            <td style="border-bottom: black 1pt solid; width: 34%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Location</b></p>
            </td>
            <td style="width: 3%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: black 1pt solid; width: 8%; vertical-align: bottom; text-align: right; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Acres</b></p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Mercer Crossing </font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Farmers Branch, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">41.62</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Windmill Farms</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Kaufman County, TX</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">80.78</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">&nbsp;</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">&nbsp;</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><i><font style="color: black;"><b>Total Land Subject to Sales Contract</b></font>
                    </i>
                    </b>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><i><font style="color: black;"><b>&nbsp;</b></font>
                    </i>
                    </b>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom; text-align: right; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">122.40</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">&nbsp;</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">&nbsp;</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><i><font style="color: black;"><b>Total Land </b></font>
                    </i>
                    </b>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><i><font style="color: black;"><b>&nbsp;</b></font>
                    </i>
                    </b>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; text-align: right; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">1,950.99 </font></font></b></p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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    </div>
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        <tr>
            <td style="padding: 0pt; width: 8%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka006"></a>ITEM 3.</b></p>
            </td>
            <td style="padding: 0pt; width: 92%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>LEGAL PROCEEDINGS</b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>ART and ART Midwest, Inc.</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">A formerly owned entity (American Realty Trust, Inc.) and its former subsidiary (ART Midwest, Inc.) have been parties&nbsp; to a litigation with Mr. David Clapper and entities related to Mr. Clapper (collectively, the &#x201C;Clapper Parties&#x201D;). The matter originally involved a transaction in 1998 in which ART Midwest, Inc. was to acquire eight residential apartment complexes from the Clapper Parties. Through the years, a number of rulings, both for and against American Realty Trust, Inc. &#x201C;ART&#x201D; and ART Midwest, Inc., were issued. In October 2011, a ruling was issued under which the Clapper Parties received a judgment for approximately $74 million, including $26 million in actual damages and $48 million interest. The ruling was against ART and ART Midwest, Inc., but no other entity. During February 2014, the Court of Appeals affirmed a portion of the judgment in favor of the Clapper Parties, but also ruled that a double counting of a significant portion of the damages had occurred and remanded the case back to the trial court to recalculate the damage award, as well as pre- and post-judgment interest thereon. Subsequently, the trial court recalculated the damage award, reducing it to approximately $59 million, inclusive of actual damages and then current interest. ART was also a significant owner of a partnership interest in the partnership that was awarded the initial damages in this matter.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Clapper Parties subsequently filed a new lawsuit against ARI, its subsidiary EQK Holdings, Inc. &#x201C;EQK&#x201D;, and ART. The Clapper Parties seek damages from ARL for payment by ART to ARL of ART&#x2019;s stock in EQK in exchange for a release of the Antecedent Debt owed by ART to ARI. In February 2018 the court determined that this legal matter should not have been filed in federal court and therefore granted motions to dismiss on jurisdictional grounds. In June 2018, the court overruled its own grant of motions to dismiss and reinstated the case. We continue to vigorously defend the case and management believes it has defenses to the claims. The case has not been set for trial.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;In 2005, ART filed suit against a major national law firm over the initial transaction. That action was initially abated while the principal case with the Clapper Parties was pending, but the abatement was recently lifted. The trial court subsequently dismissed the case on procedural grounds, but ART has filed a notice of appeal. The appeal was heard in February 2018 and the case was subsequently appealed to the Texas Supreme Court. The application for Review is still pending with the Texas Supreme Court.&nbsp; In January 2012, the Company sold all of the issued and outstanding stock of ART to an unrelated party for a promissory note in the amount of $10 million. At December 31, 2012, the Company fully reserved and valued such note at zero.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Dynex Capital, Inc.</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On July 20, 2015, the 68<sup>th</sup>&nbsp;Judicial District Court in Dallas County, Texas issued its Final Judgment in Cause No. DC-03-00675, styled Basic Capital Management, Inc., American Realty Trust, Inc., Transcontinental Realty Investors, Inc., Continental Poydras Corp., Continental Common, Inc. and Continental Baronne, Inc. v. Dynex Commercial, Inc. The case, which was litigated for more than a decade, had its origin with Dynex Commercial making loans to Continental Poydras Corp., Continental Common, Inc. and Continental Baronne, Inc. (subsidiaries of Continental Mortgage &#38; Equity Trust (&#x201C;CMET&#x201D;), an entity which merged into TCI in 1999 after the original suit was filed). Under the original loan commitment, $160 million in loans were to be made to the entities. The loans were conditioned on the execution of a commitment between Dynex Commercial and Basic Capital Management, Inc. (&#x201C;Basic&#x201D;).</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">An original trial in 2004, which also included Dynex Capital, Inc. as a defendant, resulted in a jury awarding damages in favor of Basic for &#x201C;lost opportunity,&#x201D; as well as damages in favor of ART and in favor of TCI and its subsidiaries for &#x201C;increased costs&#x201D; and &#x201C;lost opportunity.&#x201D; The original Trial Court judge ignored the jury&#x2019;s findings, however, and entered a &#x201C;Judgment Notwithstanding the Verdict&#x201D; (&#x201C;JNOV&#x201D;) in favor of the Dynex entities (the judge held the Plaintiffs were not entitled to any damages from the Dynex entities). After numerous appeals by all parties, Dynex Capital, Inc. was ultimately dismissed from the case and the remaining claims against Dynex Commercial were remanded to the Trial Court for a new judgment consistent with the jury&#x2019;s findings. The Court entered the new Final Judgment against Dynex Commercial, Inc. on July 20, 2015.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Final Judgment entered against Dynex Commercial, Inc. on July 20, 2015 awarded Basic was $0.256 million in damages, plus pre-judgment interest of $0.192 million for a total amount of $0.448 million. The Judgment awarded ART was $14.2 million in damages, plus pre-judgment interest of $10.6 million for a total amount of $24.8 million. The Judgment awarded TCI was $11.1 million, plus pre-judgment interest of $8.4 million for a total amount of $19.5 million. The Judgment also awarded Basic, ART, and TCI post-judgment interest at the rate of 5% per annum from April 25, 2014 until the date their respective damages were paid. Lastly, the Judgement awarded Basic, ART, and TCI was $1.6 million collectively in attorneys&#x2019; fees from Dynex Commercial, Inc.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">TCI is working with counsel to identify assets and collect on the Final Judgment against Dynex Commercial, Inc., as well as pursue additional claims, if any, against Dynex Capital, Inc. Post judgment interest continues to accrue.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Berger Litigation</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On February 4, 2019, an individual claiming to be a stockholder holding 7,900 shares of Common Stock of Income Opportunity Realty Investors, Inc. (&#x201C;IOR&#x201D;) filed a Complaint in the United States District Court for the Northern District of Texas, Dallas Division, individually and allegedly derivatively on behalf of IOR, against Transcontinental Realty Investors, Inc. (&#x201C;TCI&#x201D;), American Realty Investors, Inc. (&#x201C;ARL&#x201D;), (TCI is a shareholder of IOR, ARL is a shareholder of TCI) Pillar Income Asset Management, Inc. (&#x201C;Pillar&#x201D;), ( collectively the &#x201C;Companies&#x201D;), certain officers and directors of the Companies (&#x201C;Additional Parties&#x201D;) and two other individuals. The Complaint filed alleges that the sale and/or exchange of certain tangible and intangible property between the Companies and IOR during the last ten years of business operations constitutes a breach of fiduciary duty by the one or more of Companies, the Additional Defendants and/or the directors of IOR. The case alleges other related claims. The Plaintiff seeks certification as a representative of IOR and all of its shareholders, unspecified damages, a return to IOR of various funds and an award of costs, expenses, disbursements (including Plaintiff&#x2019;s attorneys&#x2019; fees) and prejudgment and post-judgment interest. The named Defendants intend to vigorously defend the action, deny all of the allegations of the Complaint, and believe the allegations to be wholly without any merit. The Defendants have filed motions to dismiss the case in its entirety in June 2019. On February 26, 2020, the Court denied IOR&#x2019;s demand futility motion. The remainder of the motions to dismiss are pending.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Litigation</b></i>
        </b><i>.&nbsp;</i>The ownership of property and provision of services to the public as tenants entails an inherent risk of liability. Although the Company and its subsidiaries are involved in various items of litigation incidental to and in the ordinary course of its business, in the opinion of management, the outcome of such litigation will not have a material adverse impact upon the Company&#x2019;s financial condition, results of operation or liquidity.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="padding: 0pt; width: 8%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka007"></a>ITEM 4.</b></p>
            </td>
            <td style="padding: 0pt; width: 92%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>MINE SAFETY DISCLOSURES</b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Not applicable.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>PART II<a name="arl10ka008"></a></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: bottom;">
            <td style="width: 1in; vertical-align: top; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ITEM&nbsp;5.</font>
            </td>
            <td style="vertical-align: top; text-align: justify; font-style: italic; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">MARKET FOR REGISTRANT&#x2019;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES<a name="arl10ka009"></a></font>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL&#x2019;s common stock is listed and traded on the NYSE American under the symbol &#x201C;ARL&#x201D;. The following table sets forth the high and low sales prices as reported in the consolidated reporting system of the NYSE American for the quarters ended:&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 60%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;" colspan="6">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="6">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">High</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding: 0pt; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Low</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding: 0pt; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">High</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding: 0pt; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Low</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 44%;" valign="bottom">
                <p style="margin: 0pt; text-indent: 10.0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">First Quarter </font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13.51</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11.22</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">21.57</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11.70</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-indent: 10.0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Second Quarter </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">14.36</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11.19</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">20.63</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12.26</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-indent: 10.0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Third Quarter </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17.89</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.53</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">19.00</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">14.50</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-indent: 10.0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Fourth Quarter </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">17.39</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12.25</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 17.48</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12.04</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On March 25, 2020, the closing market price of ARL&#x2019;s common stock on the NYSE American&nbsp;
        <font style="background: white;">$8.00</font>&nbsp;per share, and was held by approximately&nbsp;
        <font style="background: white;">1,596</font>&nbsp;stockholders of record.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL&#x2019;s Board of Directors has established a policy that dividend declarations on common stock would be determined on an annual basis following the end of each year. In accordance with that policy, the Board determined not to pay any dividends on common stock in 2019, 2018 or 2017. Future distributions to common stockholders will be determined by the Board of Directors in light of conditions then existing, including the Company&#x2019;s financial condition and requirements, future prospects, restrictions in financing agreements, business conditions and other factors deemed relevant by the Board.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under ARL&#x2019;s Amended Articles of Incorporation, 15,000,000 shares of Series A 10.0% Cumulative Convertible Preferred Stock are authorized with a par value of $2.00 per share and a liquidation preference of $10.00 per share plus accrued and unpaid dividends. Dividends are payable at the annual rate of $1.00 per share, or $.25 per share quarterly, to stockholders of record on the last day of each March, June, September, and December, when and as declared by the Board of Directors. The Series A Preferred Stock may be converted into common stock at 90.0% of the average daily closing price of ARL&#x2019;s common stock for the prior 20 trading days.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On December 31, 2018, a stock transfer agreement was entered into between Realty Advisors, Inc. (&#x201C;RAI&#x201D;) and TCI whereby TCI purchased from RAI 900,000 shares of Series A Preferred Stock for a total purchase price of approximately $9 million.&nbsp; Also, as part of the agreement, TCI acquired accrued unpaid dividends on the 900,000 shares of Series A Preferred Stock of approximately $9.9 million.&nbsp; At December 31, 2018, 1.8 million shares of Series A Convertible Preferred Stock have been eliminated in consolidation.&nbsp; Unpaid accrued dividends in the amount of $9.9 million have also been eliminated in consolidation.&nbsp; After these eliminations, there are 614 shares outstanding of Series A Preferred Stock at December 31, 2019, and 2018.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under ARL&#x2019;s Amended Articles of Incorporation, 91,000 shares of Series D 9.50% Cumulative Preferred Stock are authorized with a par value of $2.00 per share, and a liquidation preference of $20.00 per share. Dividends are payable at the annual rate of $1.90 per year or $0.475 per quarter to stockholders of record on the last day of each March, June, September and December when and as declared by the Board of Directors. The Series D Preferred Stock is reserved for the conversion of the Class&nbsp;A limited partner units of Ocean Beach Partners, L.P. The Class&nbsp;A units may be exchanged for Series D Preferred Stock at the rate of 20 Class&nbsp;A units for each share of Series D Preferred Stock. There are no outstanding shares of Series D Preferred Stock. On January 12, 2018 Realty Advisors converted 200,000 preferred shares, plus accrued dividends into 482,716 shares of common stock.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 21; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->21
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under ARL&#x2019;s Amended Articles of Incorporation, 500,000 shares of Series E 6.0% Cumulative Preferred Stock are authorized with a par value $2.00 per share and a liquidation preference of $10.00 per share. Dividends are payable at the annual rate of $0.60 per share or $0.15 per quarter to stockholders of record on the last day of each March, June, September and December when and as declared by the Board of Directors. There are no Series E Preferred Stock outstanding. As an instrument amendatory to ARL&#x2019;s Amended Articles of Incorporation, 100,000 shares of Series J 8% Cumulative Convertible Preferred Stock have been designated pursuant to a Certificate of Designation filed March&nbsp;16, 2006, with a par value of $2.00 per share, and a liquidation preference of $1,000 per share. Dividends are payable at the annual rate of $80 per share, or $20 per quarter, to stockholders of record on the last day of each of March, June, September and December, when and as declared by the Board of Directors. Although the Series J 8% Cumulative Convertible Preferred Stock has been designated, no shares have been issued.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company had 135,000 shares of Series K convertible preferred stock, which were held by TCI and used as collateral on a note. The note has been paid in full and the Series K preferred stock was cancelled May 7, 2014.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On September&nbsp;1, 2000, the Board of Directors approved a share repurchase program authorizing the repurchase of up to a total of 1,000,000 shares of ARL common stock. This repurchase program has no termination date. In August 2010, the Board of Directors approved an increase in the share repurchase program for up to an additional 250,000 shares of common stock which results in a total authorization under the repurchase program for up to 1,250,000 shares.&nbsp;
        <font style="color: #333333; background: white;">There were no shares repurchased during the years ended December 31, 2019, and 2018.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 22; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->22
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <table style="width: 100%; border-collapse: collapse;" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 1in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>ITEM 6.</b></p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>SELECTED FINANCIAL DATA<a name="arl10ka010"></a></b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following table sets forth selected consolidated financial data derived from our audited financial statements for each of the five years in the period ended&nbsp;December&nbsp;31, 2019. The data presented below should be read in conjunction with &#x201C;Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations&#x201D; set forth in&nbsp;Part II, Item 7&nbsp;of&nbsp;this Annual Report&nbsp;and the consolidated financial statements and the accompanying notes set forth in&nbsp;Part II, Item 8&nbsp;of&nbsp;this Annual Report.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="18" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>For the Years Ended December 31,</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2017</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2016</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2015</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td colspan="18" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands, except share and per share amounts) </b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 30%; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>EARNINGS DATA</b></p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Rental and other property revenues</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">47,970</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">120,956</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">126,221</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">119,663</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">104,188</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total operating expenses</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">59,378</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">107,071</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">108,793</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">105,029</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">97,880</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating (loss) income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,408</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,885</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,428</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">14,634</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,308</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Other expenses</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(25,527</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,513</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(47,706</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(36,325</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(31,622</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(Loss) income before gain on dispositioin of 50% interest in VAA, gain on land sales, non-controlling interest, and taxes</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(36,935</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,372</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(30,278</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,691</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(25,314</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on disposition of 50% interest in VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">154,126</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(Loss) gain on income producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(80</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,698</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,207</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,272</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,404</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,884</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,121</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">21,648</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income tax (expense) benefit</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,210</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(180</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(46</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(517</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continuing operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,409</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(4,183</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net (loss) income from discontinuing operations</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">896</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net (loss) income</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,410</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,287</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net (income) loss attributable to non-controlling interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,785</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,993</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">445</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(322</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,327</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net (loss) income attributable to American Realty Investors, Inc.</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,958</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">173,699</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,431</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,732</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,960</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Preferred dividend requirement</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(901</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,105</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,101</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,216</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,959</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">172,798</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,536</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,833</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,176</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>PER SHARE DATA</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - basic</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(loss) income from continuing operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.36</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11.37</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.64</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.25</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.27</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income from discontinued operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.06</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.00</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.81</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.61</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.25</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.21</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,982,528</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,111,107</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - diluted</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(loss) income from continuing operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.36</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.89</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.64</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.25</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.27</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income from discontinued operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.06</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.00</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.35</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.61</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.25</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.21</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing diluted earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,697,966</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,111,107</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>BALANCE SHEET DATA</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Real estate, net</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">387,790</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">381,043</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">988,117</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">901,006</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">853,507</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Notes and interest receivable, net</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">156,200</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">126,058</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">112,095</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">126,564</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">120,243</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Investment in VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">59,148</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">68,399</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">830,641</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">826,149</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,296,720</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,174,909</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,117,368</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Notes and interest payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">254,873</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">286,968</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">901,083</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">851,095</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">804,760</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Bonds and interest payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">229,722</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">158,574</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">113,049</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Shareholders&#x2019; equity</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">296,516</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">321,136</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">165,883</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">176,131</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">176,889</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Book value per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">18.54</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">20.09</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.69</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11.35</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11.71</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <table style="width: 100%; border-collapse: collapse;" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 1in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka011"></a>ITEM&nbsp;7.</b></p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>MANAGEMENT&#x2019;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following discussion should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this report.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">This Annual Report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws, principally, but not only, under the captions &#x201C;Business,&#x201D; &#x201C;Risk Factors,&#x201D; and &#x201C;Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations.&#x201D; We caution investors that any forward-looking statements in this report, or which management may make orally or in writing from time to time, are based on management&#x2019;s beliefs and on assumptions made by, and information currently available to, management. When used, the words &#x201C;anticipate&#x201D;, &#x201C;believe&#x201D;, &#x201C;expect&#x201D;, &#x201C;intend&#x201D;, &#x201C;may&#x201D;, &#x201C;might&#x201D;, &#x201C;plan&#x201D;, &#x201C;estimate&#x201D;, &#x201C;project&#x201D;, &#x201C;should&#x201D;, &#x201C;will&#x201D;, &#x201C;result&#x201D; and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors, that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We caution you that, while forward-looking statements reflect our good faith beliefs when we make them, they are not guarantees of future performance and are impacted by actual events when they occur after we make such statements. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Some of the risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the following:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants&#x2019; financial condition, and competition from other developers, owners and operators of real estate);</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">risks associated with the availability and terms of financing and the use of debt to fund acquisitions and developments;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">failure to manage effectively our growth and expansion into new markets or to integrate acquisitions successfully;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">risks and uncertainties affecting property development and construction (including, without limitation, construction delays, cost overruns, inability to obtain necessary permits and public opposition to such activities);</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">costs of compliance with the Americans with Disabilities Act and other similar laws and regulations;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">potential liability for uninsured losses and environmental contamination;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">risks associated with our dependence on key personnel whose continued service is not guaranteed; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&#x25CF;</p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the other risk factors identified in this Form 10-K, including those described under the caption &#x201C;Risk Factors.&#x201D;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The risks included here are not exhaustive. Other sections of this report, including Part I, Item&nbsp;1A. &#x201C;Risk Factors,&#x201D; include additional factors that could adversely affect our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Investors should also refer to our quarterly reports on Form 10-Q for future periods and current reports on Form 8-K as we file them with the SEC, and to other materials we may furnish to the public from time to time through Forms 8-K or otherwise.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Overview</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We are an externally advised and managed real estate investment company that owns a diverse portfolio of income-producing properties and land held for development. The Company&#x2019;s portfolio of income-producing properties includes residential apartment communities, office buildings and other commercial properties. Our investment strategy includes acquiring existing income-producing properties as well as developing new properties on land already owned or acquired for a specific development project.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We acquire land primarily in urban in-fill locations or high-growth suburban markets. We are an active buyer and seller of real estate.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">During the year ended December 31, 2019, the Company sold 105.1 acres of land for an aggregate sales price of $30.0 million and purchased 41.9 acres for an aggregate purchase price of approximately $4.6 million. In addition, the Company acquired 1.27 acres of land in exchange for a note receivable with a face value of $1.8 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We sold a multifamily residential property, located in Mary Ester, Florida for a total sales price of $3.1 million, and recognized a loss on the sale of $0.08 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company purchased an option to buy 37.8 acres of land (6.3 acres located in Collin County, Texas and 31.5 acres located in Clark County, Nevada) for $2.0 million from a third party land developer.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We advanced $21.4 million to several developers with the option to purchase the residential properties under construction at a future date, and sold fresh water district receivables related to infrastructure development work at Windmill Farms, located in Kaufman County, Texas for $12.0 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As of December 31, 2019, we owned 1,657 units in ten residential apartment communities, and seven commercial properties comprising of approximately 1.7 million rentable square feet.&nbsp; In addition, we own approximately 1,951acres of land held for development. The Company currently owns income-producing properties and land in eight states.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We finance our acquisitions primarily through operating cash flow, proceeds from the sale of land and income-producing properties and debt financing primarily in the form of property-specific first-lien mortgage loans from commercial banks and institutional lenders. We finance our development projects principally with short-term, variable interest rate construction loans that are converted to long-term, fixed rate amortizing mortgages when the development project is completed and occupancy has been stabilized. We will, from time to time, also enter into partnerships with various investors to acquire income-producing properties or land and to sell interests in some of our wholly owned properties. When we sell assets, we may carry a portion of the sales price generally in the form of a short-term, interest bearing seller-financed note receivable. We generate operating revenues primarily by leasing apartment units to residents and leasing office, retail and industrial space to commercial tenants.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We have historically engaged in and may continue to engage in certain business transactions with related parties, including but not limited to asset acquisition and dispositions. Transactions involving related parties cannot be presumed to be carried out on an arm&#x2019;s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in our best interest.</p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Since April 30, 2011, Pillar is the Company&#x2019;s external Advisor and Cash Manager under a contractual arrangement that is reviewed annually by our Board of Directors. Pillar&#x2019;s duties include, but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities. Pillar also arranges, for ARL&#x2019;s benefit, debt and equity financing with third party lenders and investors. Pillar also serves as an Advisor and Cash Manager to TCI and IOR. As the contractual Advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; The Advisor&#x201D;. ARL has no employees. Employees of Pillar render services to ARL in accordance with the terms of the Advisory Agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Effective since January&nbsp;1, 2011, Regis manages our commercial properties and provides brokerage services.&nbsp; Regis is entitled to receive a fee for its property management and brokerage services. See Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; Property Management and Real Estate Brokerage&#x201D;. The Company contracts with third-party companies to lease and manage our apartment communities.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Critical Accounting Policies</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We present our financial statements in accordance with generally accepted accounting principles in the United States (&#x201C;GAAP&#x201D;). The accompanying Consolidated Financial Statements include our accounts, our subsidiaries, generally all of which are wholly-owned, and all entities in which we have a controlling interest.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For entities in which we have less than a controlling financial interest or entities where we are not deemed to be the primary beneficiary, the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of these entities are included in consolidated net income. Our investment in Gruppa Florentina, LLC is accounted for under the equity method.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company, in accordance with the VIE guidance in ASC 810 &#x201C;Consolidations,&#x201D; consolidated&nbsp;ten multifamily residential properties at December 31, 2019 and&nbsp;nine at December 31, 2018, located throughout the United States ranging from 1,657 units to 1,489 units.&nbsp; Assets totaling approximately $478&nbsp;million and approximately $464 million at December 31, 2019 and 2018, respectively,&nbsp;are consolidated and included in &#x201C;Real estate, at cost&#x201D; on the balance sheet and are all collateral for their respective mortgage notes payable, none of which are recourse to the partnership in which they are in or to the Company.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Real Estate</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Upon acquisitions of real estate, we assess the fair value of acquired tangible and intangible assets, including land, buildings, tenant improvements, &#x201C;above-market&#x201D; and &#x201C;below-market&#x201D; leases, origination costs, acquired in-place leases, other identified intangible assets and assumed liabilities in accordance with ASC Topic 805 &#x201C;Business Combinations&#x201D;, and allocate the purchase price to the acquired assets and assumed liabilities, including land at appraised value and buildings at replacement cost.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We assess and consider fair value based on estimated cash flow projections that utilize appropriate discount and/or capitalization rates, as well as available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known and anticipated trends, and market and economic conditions. The fair value of the tangible assets of an acquired property considers the value of the property as if it were vacant. We also consider an allocation of purchase price of other acquired intangibles, including acquired in-place leases that may have a customer relationship intangible value, including (but not limited to) the nature and extent of the existing relationship with the tenants, the tenants&#x2019; credit quality and expectations of lease renewals. Based on our acquisitions to date, our allocation to customer relationship intangible assets has been immaterial.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We record acquired &#x201C;above-market&#x201D; and &#x201C;below-market&#x201D; leases at their fair values (using a discount rate which reflects the risks associated with the leases acquired) equal to the difference between (1) the contractual amounts to be paid pursuant to each in-place lease and (2) management&#x2019;s estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the initial term plus the term of any below-market fixed rate renewal options for below-market leases.</p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Other intangible assets acquired include amounts for in-place lease values that are based on our evaluation of the specific characteristics of each tenant&#x2019;s lease. Factors to be considered include estimates of carrying costs during hypothetical expected lease-up periods considering current market conditions, and costs to execute similar leases. In estimating carrying costs, we include real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, depending on local market conditions. In estimating costs to execute similar leases, we consider leasing commissions, legal and other related expenses.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Depreciation and Impairment</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Real estate is stated at depreciated cost. The cost of buildings and improvements includes the purchase price of property, legal fees and other acquisition costs. Costs directly related to the development of properties are capitalized. Capitalized development costs include interest, property taxes, insurance, and other direct project costs incurred during the period of development.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">A variety of costs are incurred in the acquisition, development and leasing of properties. After determination is made to capitalize a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project is substantially complete and capitalization must cease involves a degree of judgment. Our capitalization policy on development properties is guided by ASC Topic 835-20 &#x201C;Interest &#x2013; Capitalization of Interest&#x201D; and ASC Topic 970 &#x201C;Real Estate - General&#x201D;. The costs of land and buildings under development include specifically identifiable costs. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a construction project as substantially completed and held available for occupancy upon the receipt of certificates of occupancy, but no later than one year from cessation of major construction activity. We cease capitalization on the portion that is&nbsp;substantially completed and occupied or held available for occupancy, and we capitalize only those costs associated with the portion under construction.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Management reviews its long-lived assets used in operations for impairment when there is an event or change in circumstances that indicates impairment in value. An impairment loss is recognized if the carrying amount of its assets is not recoverable and exceeds its fair value. Fair value is determined by a recent appraisal, comparable based upon prices for similar assets, executed sales contract, a present value and/or a valuation technique based upon a multiple of earnings or revenue. If such impairment is present, an impairment loss is recognized based on the excess of the carrying amount of the asset over its fair value. The evaluation of anticipated cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results in future periods. If we determine that impairment has occurred, the affected assets must be reduced to their fair value. &nbsp;We did not record any impairment charges for the years ended December 31, 2019 and 2018.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Real Estate Assets Held for Sale</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We classify properties as held for sale when certain criteria are met in accordance with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. We did not have any real estate assets classified as held for sale at December 31, 2019 or 2018.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Any properties that are treated as &#x201C;subject to sales contract&#x201D; on the Consolidated Balance Sheets and are listed in detail in Schedule III, &#x201C;Real Estate and Accumulated Depreciation&#x201D; are those in which we have not recognized the legal sale according to the guidance in ASC 360-20 due to various factors, disclosed in Item 1 &#x201C;Significant Real Estate Acquisitions/Dispositions and Financing.&#x201D; Any sale transaction where the guidance reflects that a sale had not occurred, the asset involved in the transaction, including the debt, if appropriate, and property operations, remained on the books of the Company. We continue to charge depreciation to expense as a period costs for the property until such time as the property has been classified as held for sale in accordance with guidance reflected in ASC 360-10-45 &#x201C;Impairment or Disposal of Long-Lived Assets.&#x201D;</p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Investment in Unconsolidated Real Estate Ventures</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Except for ownership interests in variable interest entities, we account for our investments in unconsolidated real estate ventures under the equity method of accounting because we exercise significant influence over, but do not control, these entities. These investments are recorded initially at cost, as investments in unconsolidated real estate ventures, and subsequently adjusted for equity in earnings and cash contributions and distributions. Any difference between the carrying amount of these investments on our balance sheet and the underlying equity in net assets is amortized as an adjustment to equity in earnings of unconsolidated real estate ventures over the life of the related asset. Under the equity method of accounting, our net equity is reflected within the Consolidated Balance Sheets, and our share of net income or loss from the joint ventures is included within the Consolidated Statements of Operations. The joint venture agreements may designate different percentage allocations among investors for profits and losses; however, our recognition of joint venture income or loss generally follows the joint venture&#x2019;s distribution priorities, which may change upon the achievement of certain investment return thresholds. For ownership interests in variable interest entities, we consolidate those in which we are the primary beneficiary.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Recognition of Rental Income</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Rental income for commercial property leases is recognized on a straight-line basis over the respective lease terms. In accordance with ASC Topic 805, we recognize rental revenue of acquired in-place &#x201C;above-&#x201D;and &#x201C;below-market&#x201D; leases at their fair values over the terms of the respective leases. On our Consolidated Balance Sheets, we include as a receivable the excess of rental income recognized over rental payments received pursuant to the terms of the individual commercial lease agreements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Reimbursements of operating costs, as allowed under most of our commercial tenant leases, consist of amounts due from tenants for common area maintenance, real estate taxes and other recoverable costs, and are recognized as revenue in the period in which the recoverable expenses are incurred. We record these reimbursements on a &#x201C;gross&#x201D; basis, since we generally are the primary obligor with respect to purchasing goods and services from third-party suppliers; we have discretion in selecting the supplier and have the credit risk with respect to paying the supplier.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">Rental revenue for multi-family real estate property leases is recorded when due from residents and is recognized monthly as earned, which is not materially different than on a straight-line basis as lease terms are normally for periods of one year or less. An allowance for doubtful accounts is recorded for all past due rents and operating expense reimbursements considered to be uncollectible.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Other revenue primarily consists of garage, parking, and utility-related fees; termination and late charge fees; non-refundable fees; and various other revenue amounts related to rental activities. Those revenue amounts are recognized when the service is provided.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Leases</font></font></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">The Company is party to leases as a lessor of residential apartment communities and commercial buildings. The Company adopted ASU 2016-02, Leases, as of January 1, 2019 using the prospective adoption approach, applying the provisions of the new standard to existing leases as of the date of adoption. </font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="color: black; margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><u><font style="color: black;">Lessor Considerations </font></u></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">The Company evaluated leases in which it is the lessor, which are comprised of residential apartment community leases. The accounting model for lessors did not significantly change as a result of ASU 2016-02, with the impacts primarily related to the accounting for sales-type and direct financing leases. The Company evaluated its residential leases determining that they continue to be operating leases. For lease agreements that provide for rent concessions and/or scheduled fixed and determinable rent increases, rental income is recognized on a straight-line basis over the non - cancelable term of the lease. The Company&#x2019;s residential lease term is generally one year. </font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">Additionally, for the Company&#x2019;s residential leases, which are comprised of the lease component and common area maintenance as a non-lease component, the Company determined that (1) the leases are operating leases, (2) the lease component is the predominant component, and (3) that all components of its operating leases share the same timing and pattern of transfer. </font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <p style="color: black; margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><u><font style="color: black;">Implementation Considerations and Impact </font></u></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">As discussed above, the Company elected to apply certain lessor practical expedients allowed under the standard including: </font>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
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            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x25CF;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">by class of underlying asset for residential leases, to not separate non-lease components from lease components and instead to account for each separate lease and non-lease component as a single lease component; </font>
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                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x25CF;</font>
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                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">to exclude costs paid by lessees directly to third parties on behalf of the Company; and </font>
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                    <font style="color: black;">&#x25CF;</font>
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                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">to exclude sales taxes and other similar taxes assessed by a government authority and collected by the Company from the lessee. </font>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Revenue Recognition on the Sale of Real Estate</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Sales and the associated gains or losses of real estate are recognized in accordance with the provisions of ASC Topic 360-20, &#x201C;Property, Plant and Equipment &#x2013; Real Estate Sale&#x201D;. The specific timing of a sale is measured against various criteria in ASC 360-20 related to the terms of the transaction and any continuing involvement in the form of management or financial assistance associated with the properties. If the sales criteria for the full accrual method are not met, we defer some or all of the gain recognition and account for the continued operations of the property by applying the finance, leasing, deposit, installment or cost recovery methods, as appropriate, until the sales criteria are met.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Non-performing Notes Receivable</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We consider a note receivable to be non-performing when the maturity date has passed without principal repayment and the borrower is not making interest payments in accordance with the terms of the agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Interest Recognition on Notes Receivable</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We record interest income as earned in accordance with the terms of the related loan agreements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Allowance for Estimated Losses</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We assess the collectability of notes receivable on a periodic basis, of which the assessment consists primarily of an evaluation of cash flow projections of the borrower to determine whether estimated cash flows are sufficient to repay principal and interest in accordance with the contractual terms of the note. We recognize impairments on notes receivable when it is probable that principal and interest will not be received in accordance with the contractual terms of the loan. The amount of the impairment to be recognized generally is based on the fair value of the partnership&#x2019;s real estate that represents the primary source of loan repayment. See Note 5 &#x201C;Notes and Interest Receivable&#x201D; for details on our notes receivable.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Fair Value of Financial Instruments</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We apply the guidance in ASC Topic 820, &#x201C;Fair Value Measurements and Disclosures,&#x201D; to the valuation of real estate assets. These provisions define fair value as the price that would be received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date, establish a hierarchy that prioritizes the information used in developing fair value estimates and require disclosure of fair value measurements by level within the fair value hierarchy. The hierarchy gives the highest priority to quoted prices in active markets (Level 1 measurements) and the lowest priority to unobservable data (Level 3 measurements), such as the reporting entity&#x2019;s own data.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date and includes three levels defined as follows:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 3%; text-align: left; white-space: nowrap;">Level 1&#x2014;</td>
            <td style="width: 97%;">Unadjusted&nbsp;quoted&nbsp;prices&nbsp;for&nbsp;identical&nbsp;and&nbsp;unrestricted&nbsp;assets or liabilities in active markets.</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 3%; text-align: left; white-space: nowrap;">Level 2&#x2014;</td>
            <td style="width: 97%;">Quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-left: 0.25in; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 3%; text-align: left; white-space: nowrap;">Level 3&#x2014;</td>
            <td style="width: 97%;">Unobservable inputs that are significant to the fair value measurement.</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">A financial instrument&#x2019;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Related parties</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We apply ASC Topic 805, &#x201C;Business Combinations&#x201D;, to evaluate business relationships. Related parties are persons or entities who have one or more of the following characteristics, which include entities for which investments in their equity securities would be required, trust for the benefit of persons including principal owners of the entities and members of their immediate families, management personnel of the entity and members of their immediate families and other parties with which the entity may deal if one party controls or can significantly influence the decision making of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Results of Operations</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The discussion of our results of operations is based on management&#x2019;s review of operations, which is based on our segments. Our segments consist of apartments, commercial buildings, hotels, land and other. For discussion purposes, we break these segments down into the following sub-categories; same property portfolio, acquired properties, and developed properties in the lease-up phase. The same property portfolio consists of properties that were held by us for the entire period for both years being compared. The acquired property portfolio consists of properties that we acquired but have not held for the entire period for both periods being compared. Developed properties in the lease-up phase consist of completed projects that are being leased-up. As we complete each phase of the project, we lease-up that phase and include those revenues in our continued operations. Once a developed property becomes leased-up (80% or more) and is held the entire period for both years under comparison, it is considered to be included in the same property portfolio. Income-producing properties that we have sold during the year are reclassified to discontinuing operations for all periods presented. The other segment consists of revenue and operating expenses related to the notes receivable and corporate entities.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following discussion is based on our Consolidated Statements of Operations for the years ended December 31, 2019, 2018, and 2017 as included in Item&nbsp;8. &#x201C;Consolidated Financial Statements and Supplementary Data&#x201D;. Continuing operations relates to income-producing properties that were held during those years as adjusted for sales in the subsequent years.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following table shows the total number of income-producing properties, and other key financial measures as of December 31, 2019, 218 and 2017:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px 0px 0px 0; width: 80%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2019</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2018</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2017</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 58%;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Residential properties (Company owned)</font></font></b></p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">10</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">9</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">51</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Residential properties (total apartment units)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,657</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,489</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">8,606</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Residential - average annual rental revenue per sqf</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">13.36</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">6.53</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 11.83</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">VAA joint venture - residential properties</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">51</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">49</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">VAA residential properties (total apartment units)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">9,888</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">9,192</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">VAA residential - average annual rental revenue per sqf</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">14.74</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12.83</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Commercial properties (Company owned)</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">7</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">7</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">7</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Commercial properties - total sqf</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,697,890</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,697,890</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">1,697,890</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Commercial - average annual rental revenue per sqf</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">25.61</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">19.80</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 18.55</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Comparison of the year ended December 31, 2019 to the year ended December 31, 2018:</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For the year ended December 31, 2019, we reported net loss applicable to common shares of $15.9 million or ($1.00) diluted earnings per share compared to a net income applicable to common shares of $172.8 million or $10.35 diluted earnings per share for the year ended December 31, 2018.&nbsp;<b>&nbsp;</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Revenues</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Rental and other property revenues were $47.9 million for the year ended December 31, 2019, compared to $121.0 million for the same period in 2018. The $73.1 million decrease is primarily due to a decrease in the amount of multifamily residential apartment buildings currently in our portfolio of ten as compared to forty-eight multifamily residential apartment buildings for the period January 1 through November 19, 2018 as a result of the deconsolidation of forty-nine residential apartment properties that were sold into the VAA Joint Venture on November 19, 2018. As the assets are now treated as unconsolidated investments, our share of rental revenues is part of income from unconsolidated investments in the current period and are no longer treated as rental income (Refer to Note 2).&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><font style="background: white;"><font style="background: white;">Expenses</font></font></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Property operating expenses decreased by $33.9 million to $25.7 million for the year ended December 31, 2019 as compared to $59.6 million for the same period in 2018. The decrease in property operating expenses is primarily due to the deconsolidation of forty-nine residential apartment properties that were sold into the VAA Joint Venture during the fourth quarter of 2018 which resulted in a decrease in salary and related payroll expenses of $6.7 million, real estate taxes of approximately $11.4 million, management fees paid to third parties of $2.6 million and other general property operating and maintenance expenses of $13.2 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Depreciation and amortization decreased by $9.3 million to&nbsp;$13.4 million&nbsp;during the year ended December 31, 2019&nbsp;as compared to&nbsp;$22.7 million&nbsp;for the same period in 2018. This decrease is primarily due to the deconsolidation of the residential apartments in connection with our previous sale and contribution of our interests to the VAA Joint Venture.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">General and administrative expense was $13.3 million for the year ended December 31, 2019, compared to $12.7 million for the same period in 2018.
        <font style="background: white;">The increase of $0.6 million in general and administrative expenses is primarily due to increases in fees paid to our Advisors of $0.5 million, and other general and administrative expenses of $0.1 million. </font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Net income fee was $0.4 million for the year ended December 31, 2019. This represents a decrease of $0.2 million compared to the prior year net income fee of $0.6 million. The net income fee paid to Pillar is calculated at 7.5% of net income.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Advisory fees were $6.6 million for the year ended December 31, 2019. This represents a decrease of $4.9 million compared to the prior year advisory fees of $11.5 million. Advisory fees are computed based on a gross asset fee of 0.0625% per month (0.75% per annum) of the average of the gross asset value.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><font style="background: white;"><font style="background: white;">Other income (expense)</font></font></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Interest income was $25.9 million for the year ending December 31, 2019, compared to $21.6 million for the same period in 2018.&nbsp;The increase of $4.3 million was primarily due to an increase in interest income of approximately $3.2 million on receivables owed from our Advisors and $1.1 million on note receivables owed by related parties.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Other income was $11.0 million for the year ending December 31, 2019, compared to $28.9 million for the same period in 2018, a decrease of $17.9 million. For the year ending December 31, 2019, we recognized a gain of approximately $9.2 million as a result of deferred income associated with the sale of property in previous years, received cash proceeds of $3.1 million from the collection of tax increment incentives from the city of Farmers Branch, Texas related to infrastructure development work at Mercer Crossing, and recognized miscellaneous income of approximately $2.4 million, offset by general expenses of approximately $3.7 million.&nbsp; For the same period a year ago, we received insurance proceeds of $7.6 million on Mahogany Run Golf Course, recognized a gain of $17.6 million as a result of deferred income related to the sale of land, and recognized miscellaneous income of approximately $2.2 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Mortgage and loan interest expense was&nbsp;$39.9 million&nbsp;for the year ending December 31, 2019,&nbsp;as compared to&nbsp;$66.1 million&nbsp;for the same period in&nbsp;2018. The decrease of $26.2 million is primarily due to the deconsolidation of residential apartment properties into the VAA Joint Venture which were encumbered by mortgage debt.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Foreign currency transaction&nbsp;was a loss of $15.1 million for the year ending December 31, 2019, as compared to a gain of $12.4 million for the same period in 2018. The loss is due to the unfavorable exchange rate between the Israel Shekels and the U.S. Dollar related to our Israel Shekels denominated bonds and the increase in our bonds obligations during the year ended December 31, 2019 as compared to the same period a year ago.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Loss on debt extinguishment was $5.2 million with no comparable amount in 2018. The loss is the result of debt issuance costs write-off of $1.4 million and prepayment penalty of approximately $3.9 million associated with the payment of $41.5 million of mortgage debt for one of our commercial building. &nbsp;&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Loss from unconsolidated investments was a net of $2.3 million for the year ending December 31, 2019, as compared to net earnings of $1.5 million for the year ended December 31, 2018. The loss from unconsolidated investments during the year ended December 31, 2019, was driven primarily from our share in the losses reported by our joint venture VAA of $2.8 million (Refer to Note 2).</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Loss from the sale of income-producing property increased for the year ending December 31, 2019 as compared to the same period a year ago. During the year ended December 31, 2019, we sold a multifamily residential property for a sales price of $3.1 million and recorded a loss of $0.08 million. During year ended December 31, 2018, we sold six multifamily residential properties at an aggregate sales price of $8.5 million and recorded no gain or loss from the sale.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Gain on land sales decreased by $2.1 million for the year ending December 31, 2019, to $15.3 million as compared to $17.4 million for the same period a year ago. During the year ending December 31, 2019, we sold 105.1 acres of land for an aggregate sales price of $30.0 million and recorded a gain of $17.4 million.&nbsp;&nbsp;For the same period a year ago, we sold approximately 112.2 acres of land for an aggregate sales price of $43.3 million and recorded a gain of $17.4 million.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Comparison of the year ended December 31, 2018 to the year ended December 31, 2017:</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For the year ended December 31, 2018, we reported net income applicable to common shares of $172.8 million or $10.35 diluted earnings per share compared to a net loss applicable to common shares of $9.5 million or ($0.61) diluted earnings per share for the year ended December 31, 2017.&nbsp;The current year net income applicable to common shares of $172.8 million includes a gain of approximately $154.1 million from the disposition of 50% interest in VAA. Current year net income also includes gain on sales of land of $17.4 million and no gain on sales of income-producing properties, compared to the prior year net loss which included gain on sales of income producing properties of $16.7 million and gain on land sales of $4.9 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Revenues</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Rental and other property revenues were $121.0 million for the year ended December 31, 2018. This represents a decrease of $5.2 million compared to the prior year revenues of $126.2 million. The decrease is primarily due to the contribution of fifty-two properties to the joint venture VAA on November 19, 2018.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><font style="background: white;"><font style="background: white;">Expenses</font></font></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Property operating expenses were $59.6 million for the year ended December 31, 2018. This represents a decrease of $4.5 million, compared to prior year operating expenses of $64.1 million. The decrease is primarily due to the contribution of fifty-two properties to the joint venture VAA on November 19, 2018.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Depreciation and amortization expenses were $22.7 million for the year ended December 31, 2018. This represents a decrease of $3.0 million compared to prior year depreciation of $25.7 million. The decrease is primarily due to the contribution of fifty-two properties to the joint venture VAA on November 19, 2018.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">General and administrative expenses were $12.7 million for the year ended December 31, 2018. This represents an increase of $5.0 million compared to the prior year expenses of $7.7 million. The increase in general and administrative expenses was due primarily to an increase in fees paid to our Advisors of approximately $1.5 million, general fees of approximately $1.5 million associated with finalizing the formation of the joint venture, legal and regulatory fees of $0.8 million and general and professional fees of approximately $1.0 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Net income fee was $0.6 million for the year ended December 31, 2018. This represents an increase of $0.3 million compared to the prior year net income fee of $0.3 million. The net income fee paid to Pillar is calculated at 7.5% of net income.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Advisory fees were $11.5 million for the year ended December 31, 2018. This represents an increase of $0.4 million compared to the prior year advisory fees of $11.1 million. Advisory fees are computed based on a gross asset fee of 0.0625% per month (0.75% per annum) of the average of the gross asset value.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><font style="background: white;"><font style="background: white;">Other income (expense)</font></font></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Interest income was $21.6 million for the year ending December 31, 2018 compared to $18.9 million for the year ended December 31, 2017, an increase of $2.7 million.&nbsp;This increase was primarily due to an increase of $3.6 million in interest on receivable owed from our Advisors, offset by a decrease of $0.9 in interest on notes receivable from other related parties.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Mortgage and loan interest expense was $66.1 million for the year ended December 31, 2018. This represents an increase of $0.1 million compared to the prior year expense of $66.2 million. The decrease is primarily due to the contribution of fifty-two properties to the joint venture VAA on November 19, 2018.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">No gain on sales of income producing properties was recognized during the year ended December 31, 2018. Gain on sale of income-producing properties was $16.7 million for the year ended December 31, 2017.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Gain on land sales was $17.4 million and $4.9 million for the years ended December 31, 2018 and 2017, respectively. The increase of approximately $12.5 million was primarily due to sales of land at Mercer Crossing recognized in 2018.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Other income was $28.9 million and $4.1 million for the years ended December 31, 2018 and 2017, respectively. The increase of $24.8 million was primarily due to a&nbsp;
        <font style="background: white;">$17.6 million gain recognized in September 2018 for deferred income associated with the sale of assets, as well as insurance proceeds of approximately $7.6 million received subsequent to the sale of Mahogany Run Golf Course.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="background: white;">Gain on disposition of 50% interest in VAA was $154.1 million for the year ended December 31, 2018 as a result of the contribution of fifty-two properties to the joint venture VAA (Refer to Note 2 &#x201C;Investment in VAA&#x201D;).</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Liquidity and Capital Resources</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>General</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our principal liquidity needs are:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>fund normal recurring expenses;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>meet debt service and principal repayment obligations including balloon payments on maturing debt;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 33; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->33
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>fund capital expenditures, including tenant improvements and leasing costs;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>fund development costs not covered under construction loans; and</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>fund possible property acquisitions.</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our principal sources of cash have been and will continue to be:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>property operations;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>proceeds from land and income-producing property sales;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>collection of mortgage notes receivable;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>collections of receivables from related companies;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>refinancing of existing debt; and</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0.25in;"></td>
            <td style="width: 0.25in; text-align: left;">&#x25CF;</td>
            <td>additional borrowings, including mortgage notes payable, and lines of credit.</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">It is important to realize that the current status of the banking industry has had a significant effect on our industry. The banks&#x2019; willingness and/or ability to originate loans affects our ability to buy and sell property, and refinance existing debt. We are unable to foresee the extent and length of this down-turn. A continued and extended decline could materially impact our cash flows. We draw on multiple financing sources to fund our long-term capital needs. We generally fund our development projects with construction loans, which are converted to traditional mortgages upon completion of the project.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We may also issue additional equity securities, including common stock. Management anticipates that our cash as of December&nbsp;31, 2019, along with cash that will be generated in 2020 from notes and interest receivables, will be sufficient to meet all of our cash requirements. Management intends to selectively sell land and income-producing assets, refinance or extend real estate debt and seek additional borrowings secured by real estate to meet its liquidity requirements. Although history cannot predict the future, historically, we have been successful at refinancing and extending a portion of the Company&#x2019;s current maturity obligations.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Management reviews the carrying values of ARL&#x2019;s properties and mortgage notes receivable at least annually and whenever events or a change in circumstances indicate that impairment may exist. Impairment is considered to exist if, in the case of a property, the future cash flow from the property (undiscounted and without interest) is less than the carrying amount of the property. The property review generally includes: (1)&nbsp;selective property inspections, (2)&nbsp;a review of the property&#x2019;s current rents compared to market rents, (3)&nbsp;a review of the property&#x2019;s expenses, (4)&nbsp;a review of maintenance requirements, (5)&nbsp;a review of the property&#x2019;s cash flow, (6)&nbsp;discussions with the manager of the property, and (7)&nbsp;a review of properties in the surrounding area. For notes receivable, impairment is considered to exist if it is probable that all amounts due under the terms of the note will not be collected. If impairment is found to exist, a provision for loss is recorded by a charge against earnings to the extent that the investment in the note exceeds management&#x2019;s estimate of the fair value of the collateral securing such note. The mortgage note receivable review includes an evaluation of the collateral property securing each note.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 34; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->34
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Cash Flow Summary</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following summary discussion of our cash flows is based on the Consolidated Statements of Cash Flows in Part II, Item&nbsp;8. &#x201C;Consolidated Financial Statements and Supplementary Data&#x201D; and is not meant to be an all-inclusive discussion of the changes in our cash flows for the periods presented below (dollars in thousands):</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px 0px 0px 0; width: 80%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;" colspan="6">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>December 31,</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2019</font></font></b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2018</font></font></b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Incr /(Decr)</font></font></b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 58%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net cash (used in) operating activities</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(40,641</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> (172,332</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">131,691</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net cash (used in) provided by investing activities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(3,705</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">147,625</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> (151,330</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net cash provided by financing activities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">21,042</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">42,784</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> (21,742</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The primary use of cash for operations is daily operating costs, general and administrative expenses, advisory fees, and land holding costs. Our primary source of cash from operating activities is from rental income on properties. Our primary cash outlays for investing activities are for construction and development, acquisition of land and income-producing properties, and capital improvements to existing properties. Our primary sources of cash from investing activities are from the proceeds on the sale of land and income-producing properties.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">Our primary cash outlays for investing activities are for construction and development, acquisition of land and income-producing properties, and capital improvements to existing properties. During the year ended December 31, 2019, we advanced $21.4 million toward various notes receivable, purchased land for development for $3.4 million, and invested approximately $33.7 million for the construction and development of new properties and improvement of income producing properties. For the year ended December 31, 2018,&nbsp;we advanced $16.8 million toward various notes receivable and invested $85.1 million for development of new properties and improvement of income producing properties.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">Our primary sources of cash from investing activities are from the proceeds on the sale of land and income-producing properties. During the year ended December 31, 2019, we received aggregate sales proceeds of $27.3 million from the sale of 105.1 acres of land, received $19.8 million in payments from related party note receivables,&nbsp; and recorded a gain of $15.3 million and sold a residential property for which we received cash proceeds of $1.3 million and a plot of land valued at $1.8 million. For the year ended December 31, 2018, we received aggregate sales proceeds of $11.9 million from the sale of approximately 112 acres of land and recorded a gain on the sale of $17.4 million. In addition, we received aggregate sale proceeds of $4.9 million from the sale of seven income producing properties and a golf course, $236.8 million from the formation of the joint venture with Macquarie, and collected $6.5 million from a related party note receivable.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our primary sources of cash from financing activities are from proceeds on notes payables. Our primary cash outlays are for recurring debt payments and payments on maturing notes payable.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For the year ended December 31, 2019, the increase in cash flow from financing activities was due to&nbsp;proceeds from borrowings of $25.7 million, and $78.1 million from the sale of nonconvertible Series C Bonds by Southern, offset by payments to our notes payable of $52.9 million and bond payments of $21.7 million.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For the year ended December 31, 2018, the increase in cash flow from financing activities was due primarily to&nbsp;proceeds from borrowings of $123.3 million, and proceeds received from the sale of nonconvertible Series B Bonds by Southern of $59.2 million, offset by payments to our notes payable of $124.6 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Equity Investments</b><i>.</i></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL has from time to time purchased shares of IOR and TCI. The Company may purchase additional equity securities of IOR and TCI through open market and negotiated transactions to the extent ARL&#x2019;s liquidity permits.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Equity securities of TCI held by ARL (and of IOR held by TCI) may be deemed &#x201C;restricted securities&#x201D; under Rule 144 of the Securities Act of 1933 (&#x201C;Securities Act&#x201D;). Accordingly, ARL may be unable to sell such equity securities other than in a registered public offering or pursuant to an exemption under the Securities Act for a one-year period after they are acquired. Such restrictions may reduce ARL&#x2019;s ability to realize the full fair value of such investments if ARL attempted to dispose of such securities in a short period of time.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 35; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->35
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Contractual Obligations</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following table represents our contractual obligations at December&nbsp;31, 2019 (in thousands):</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-left: 0; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Total</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2020</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2021</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2022</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2023</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2024</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Thereafter</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 23%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Notes and interest payable <sup>(1)</sup></font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">342,903</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">45,363</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">63,775</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">18,920</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">41,951</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">5,401</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">167,493</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Bonds and interest payable <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">276,642</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">37,317</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">47,573</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">45,057</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">120,324</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">13,599</font>
                </p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12,772</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Total</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">619,545</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">82,680</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">111,348</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">63,977</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">162,275</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">19,000</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">180,265</font>
                </p>
            </td>
            <td style="border-bottom: #000000 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0in;"></td>
            <td style="width: 0.25in; text-align: left;"><sup>(1)</sup></td>
            <td style="text-align: justify;">
                <p style="margin: 0;">The notes and bonds contain financial covenants that, if certain thresholds are not met, could allow the lender to accelerate principal payments or cause the notes to become due immediately.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Environmental Matters</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under various federal, state and local environmental laws, ordinances and regulations, ARL may be potentially liable for removal or remediation costs, as well as certain other potential costs relating to hazardous or toxic substances (including governmental fines and injuries to persons and property) where property-level managers have arranged for the removal, disposal or treatment of hazardous or toxic substances. In addition, certain environmental laws impose liability for release of asbestos-containing materials into the air, and third parties may seek recovery for personal injury associated with such materials.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Management is not aware of any environmental liability relating to the above matters that would have a material adverse effect on ARL&#x2019;s business, assets or results of operations.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Inflation</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The effects of inflation on ARL&#x2019;s operations are not quantifiable. Revenues from property operations tend to fluctuate proportionately with inflationary increases and decreases in housing costs. Fluctuations in the rate of inflation also affect the sales values of properties and the ultimate gains to be realized from property sales. To the extent that inflation affects interest rates, earnings from short-term investments and the cost of new financings as well as the cost of variable interest rate debt will be affected.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 1in;">
                <p style="margin: 0pt; padding: 0pt;">
                    <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b><a name="arl10ka012"></a>ITEM&nbsp;7A.&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt; padding: 0pt;">
                    <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><i><b>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.</b></i></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin: 0pt;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL&#x2019;s primary market risk exposure consists of changes in interest rates on borrowings under our debt instruments that bear interest at variable rates that fluctuate with market interest rates and maturing debt that has to be refinanced. ARL&#x2019;s future operations, cash flow and fair values of financial instruments are also partially dependent on the then existing market interest rates and market equity prices.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As of December 31, 2019, our outstanding notes payable consisted of approximately $261.4 million, out of which $257.5&nbsp;million were notes with fixed interest rates and $3.9 million represented a note with a variable interest rate of 9.75%. Our overall weighted average interest rate at December 31, 2019 and 2018 was 5.04% and 7.29%, respectively.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="background: white;">ARL&#x2019;s interest rate sensitivity position is managed by the capital markets department. Interest rate sensitivity is the relationship between changes in market interest rates and the fair value of market rate sensitive assets and liabilities. ARL&#x2019;s earnings are affected as changes in short-term interest rates affect its cost of variable-rate debt and maturing fixed-rate debt.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 36; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->36
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="background: white;">If market interest rates for variable-rate debt average 100 basis points more in 2020 than they did during 2019, ARL&#x2019;s interest expense would increase and net income would decrease by approximately $0.002 million. This amount is determined by considering the impact of hypothetical interest rates on ARL&#x2019;s borrowing cost. The analysis does not consider the effects of the reduced level of overall economic activity that could exist in such an environment. Further, in the event of a change of such magnitude, management would likely take actions to further mitigate its exposure to the change. However, due to the uncertainty of the specific actions that would be taken and their possible effects, the sensitivity analysis assumes no change in ARL&#x2019;s financial structure.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following table contains exposures that existed at December 31, 2019. Anticipation of exposures or risk on positions that could possibly arise was not considered. TCI&#x2019;s ultimate interest rate risk and its effect on operations will depend on future capital market exposures, which cannot be anticipated with a probable assurance level (dollars in thousands):</p>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">&nbsp;</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2020</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2021</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2022</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2023</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2024</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Thereafter</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Total</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="width: 23%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Note Receivable</font></font></b></p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 7%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Fixed interest rate - fair value</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">156,185</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Instrument&#x2019;s maturities</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 61,807</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 33,328</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 25,483</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 35,567</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">156,185</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12,871</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">8,474</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">4,766</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,920</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,920</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,920</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 37,871</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Weighted Average Rate</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">6.18</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">11.12</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">4.22</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Notes Payable:</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">&nbsp;</font></font></b></p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Variable Rate - fair value</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;&nbsp; 3,908</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Instrument&#x2019;s maturities</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,908</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;&nbsp; 3,908</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">347</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">347</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Average interest rate <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">9.75</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 17.3pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Fixed interest rate - fair value</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">257,528</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Instrument&#x2019;s maturities</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 30,396</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 55,393</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 13,437</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 36,770</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;&nbsp; 1,995</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">119,537</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">257,528</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">10,712</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">8,382</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">5,483</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">5,181</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,406</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">47,954</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;"> 81,118</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 25.9pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Average interest rate</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">8.51</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">5.90</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3.99</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">5.22</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3.63</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3.74</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0pt; margin-top: 0pt; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top;">
            <td style="width: 0in;"></td>
            <td style="width: 0.25in; text-align: left;">
                <font style="font-family: Times New Roman, Times, serif;">(1)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, serif;">Interest rates on variable rate notes payable are equal to the variable rates in effect on December 31, 2019.</font>
            </td>
        </tr>
    </table>
    <!-- Field: Page; Sequence: 37; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->37
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>IT<a name="arl10ka013"></a>EM&nbsp;8.</b></p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA</b></i>
                    </b>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>INDEX TO FINANCIAL STATEMENTS</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 93%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; width: 5%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Page</b></p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Financial Statements</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb001">Report of Independent Registered Public Accounting Firm</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">39</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb002">Consolidated Balance Sheets&#x2014;December 31, 2019 and 2018</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">40</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb003">Consolidated Statements of Operations&#x2014;Years Ended December 31, 2019, 2018 and 2017</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">41</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb004">Consolidated Statements of Shareholders&#x2019; Equity&#x2014;Years Ended December 31, 2019, 2018 and 2017</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">42</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb005">Consolidated Statements of Cash Flows&#x2014;Years Ended December 31, 2019, 2018 and 2017</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">43</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb006">Statements of Consolidated Comprehensive Income (Loss) &#x2014;Years Ended December 31, 2019, 2018 and 2017</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">44</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb007">Notes to Consolidated Financial Statements</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">45</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Financial Statement Schedules</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb008">Schedule III&#x2014;Real Estate and Accumulated Depreciation</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">72</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><a href="#arl10kb009">Schedule IV&#x2014;Mortgage Loan Receivables on Real Estate</a></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">74</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">All other schedules are omitted because they are not required, are not applicable, or the information required is included in the Consolidated Financial Statements or the notes thereto.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>REP<a name="arl10kb001"></a>ORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">To the Board of Directors of and
        <br>Stockholders of American Realty Investors, Inc.
        <br>Dallas, Texas</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Opinion on the Financial Statements</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We have audited the accompanying consolidated balance sheets of American Realty Investors, Inc. and Subsidiaries as of December 31, 2019 and 2018, and the related consolidated statements of operations, comprehensive income, stockholders&#x2019; equity, and cash flows for each of the years in the three-year period ended December 31, 2019, and the related notes and schedules collectively referred to as the &#x201C;consolidated financial statements.&#x201D; In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of American Realty Investors, Inc. as of December 31, 2019 and 2018 and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2019 in conformity with U.S. generally accepted accounting principles.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Basis of Opinion</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">These consolidated financial statements are the responsibility of Company&#x2019;s management. Our responsibility is to express an opinion on the Company&#x2019;s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&#x201C;PCAOB&#x201D;) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company&#x2019;s internal control over financial reporting. Accordingly, we express no such opinion.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Emphasis of Liquidity</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As described in the Note 17, American Realty Investors, Inc.&#x2019;s management intends to sell land and income-producing properties and refinance or extend debt secured by real estate to meet the Company&#x2019;s liquidity needs.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Supplemental Information</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The supplemental information contained in Schedules III and IV has been subjected to audit procedures performed in conjunction with the audit of the Company&#x2019;s financial statements. The supplemental information is the responsibility of the Company&#x2019;s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Security and Exchange Commission&#x2019;s rules. In our opinion, the supplemental information is fairly stated, in all material respects, the financial date required to be set forth therein in relation to the financial statements as a whole.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">FARMER, FUQUA &#38; HUFF, PC</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">Richardson, Texas</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">March 30, 2020</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We have served as the Company&#x2019;s auditor since 2004.</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 39; Value: 2-->
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>AMERICAN REALTY INVESTORS, INC. &nbsp;</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>CO<a name="arl10kb002"></a>NSOLIDATED BALANCE SHEETS</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 1pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;" colspan="6">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>December 31,</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;" colspan="6">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands, except share and par value amounts)</b> &nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; width: 70%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Assets</b></p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Real estate, at cost</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">469,997</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">455,993</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Real estate subject to sales contracts at cost</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">7,966</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,149</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Less accumulated depreciation</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(90,173</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(78,099</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 27pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total real estate</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">387,790</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">381,043</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Notes and interest receivable (including $105,524 in 2019 and $105,803 in 2018 from related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">169,299</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">140,327</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Less allowance for estimated losses (including $13,099 and $14,269 in 2019 and 2018 from related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(13,099</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(14,269</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 27pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total notes and interest receivable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">156,200</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">126,058</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Cash and cash equivalents</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">51,228</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">36,428</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Restricted cash</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">32,083</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">70,187</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Investment in VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">59,148</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">68,399</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Investment in other unconsolidated investees</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">8,507</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">7,602</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Receivable from related party</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">85,996</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">70,377</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Other assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">49,689</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">66,055</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 2pt 27pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">830,641</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">826,149</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Liabilities and Shareholders&#x2019; Equity</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Liabilities:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Notes and interest payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">254,873</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">286,968</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Bond and interest payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">229,722</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">158,574</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Deferred revenue (including $24,762&nbsp;&nbsp;in 2019 and $33,904 in 2018 to related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">24,762</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">33,904</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Accounts payable and other liabilities (including $11,817 in 2019 and $9,984 in 2018 to related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">24,768</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,576</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 27pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total liabilities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">534,125</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">505,022</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Shareholders&#x2019; equity:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="vertical-align: bottom;">
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="vertical-align: bottom;">
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="vertical-align: bottom;">
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="vertical-align: bottom;">
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="vertical-align: bottom;">
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="vertical-align: bottom;">
                <font style="font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued 614 and outstanding 1,800,614 in 2019 and 2018 (liquidation preference $10 per share), including 1,800,000 shares held by ARL and its subsidiaries in 2019 and 2018.</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Common stock, $0.01 par value, 100,000,000 shares authorized; 16,412,861 shares issued and 15,997,076 outstanding as of&nbsp;&nbsp;2019 and 2018 , including 140,000 shares held by TCI (consolidated) in 2019 and 2018.</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">164</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">164</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Treasury stock at cost; 415,785 shares in 2019 and 2018, and 140,000 shares held by TCI (consolidated) as of 2019 and 2018.</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,395</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,395</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Paid-in capital</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">82,017</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">84,885</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Retained earnings</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">163,708</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">179,666</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 27pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total American Realty Investors, Inc. shareholders&#x2019; equity</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">239,499</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">258,325</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Non-controlling interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">57,017</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">62,802</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 27pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total shareholders&#x2019; equity</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">296,516</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">321,127</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2pt 27pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total liabilities and shareholders&#x2019; equity</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">830,641</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">826,149</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">The accompanying notes are an integral part of these consolidated financial statements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 40; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->40
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>AMERICAN REALTY INVESTORS, INC. &nbsp;</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>C<a name="arl10kb003"></a>ONSOLIDATED STATEMENTS OF OPERATIONS</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 0pt 18.0pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="10" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>For the Years Ended December 31,</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 18.0pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2017</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 18.0pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td colspan="10" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands, except per share amounts)</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; width: 61%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Revenues:</b></p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Rental and other property revenues (including $841, $144 and $839 for the year ended 2019, 2018 and 2017, respectively, from related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">47,970</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">120,956</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">126,221</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Expenses:</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Property operating expenses (including $991, $254 and $959 for the year ended 2019, 2018 and 2017, respectively, from related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,694</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">59,587</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">64,091</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Depreciation and amortization</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,379</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">22,670</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,679</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">General and administrative (including $4,429, $1,267and $3,225 for the year ended 2019, 2018 and 2017, respectively, from related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,336</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,708</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">7,691</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net income fee to related party</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">357</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">631</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">250</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Advisory fee to related party</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,612</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,475</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,082</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 27pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total operating expenses</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">59,378</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">107,071</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">108,793</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net operating (loss) income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,408</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,885</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,428</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Other income (expenses):</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Interest income (including $23,760, $5,406 and $16,298 for the year ended 2019, 2018 and 2017, respectively, from related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,955</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">21,645</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">18,941</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Other income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,018</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">28,993</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,082</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Mortgage and loan interest (including $9,282, $2,240 and $6,695 for the year ended 2019, 2018 and 2017, respectively, from related parties)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(39,860</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(66,063</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(66,171</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Loss on the sale of investments</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(331</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Foreign currency transaction gain (loss)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,108</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,399</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(4,536</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Loss on extinguishment of debt</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,219</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Equity (loss) earnings from VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,774</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">44</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Earnings from unconsolidated subsidiaries and investees</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">461</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,469</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">309</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 27pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total other (expenses)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(25,527</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,513</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(47,706</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">(Loss) income before gain on land sales, non-controlling interest, and taxes</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(36,935</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,372</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(30,278</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Gain on disposition of 50% interestt in VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">154,126</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Gain on sale of income-producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(80</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,698</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,272</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,404</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,884</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continuing operations before taxes</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">183,902</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,696</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Income tax expense</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,210</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(180</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continuing operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net loss (income) attributable to non-controlling interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,785</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,993</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">445</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income attributable to American Realty Investors, Inc.</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,958</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">173,699</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,431</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Preferred dividend requirement</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(901</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,105</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,959</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">172,798</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,536</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - basic</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continuing operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.36</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11.37</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.64</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 2pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.00</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.81</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.61</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - diluted</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continuing operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.36</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.89</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.64</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 2pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1.00</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10.35</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.61</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,982,528</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing diluted earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,697,966</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Amounts attributable to American Realty Investors, Inc.</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continuing operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,959</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">172,798</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,536</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">The accompanying notes are an integral part of these consolidated financial statements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 41; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->41
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>AMERICAN REALTY INVESTORS, INC. &nbsp;</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>C<a name="arl10kb004"></a>ONSOLIDATED STATEMENT OF SHAREHOLDERS&#x2019; EQUITY </b>&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>For the Three Years Ended December 31, 2019</b>&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands, except share amounts)</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Total</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Comprehensive</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Preferred</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="6" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Common Stock</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Treasury</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Paid-in</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Retained</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Non-controlling</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Equity</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Income (Loss)</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Stock</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Shares</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Amount</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Stock</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Capital</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Earnings</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Interest</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>&nbsp;</b></font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="background-color: #cceeff; padding: 0pt 0pt 0pt 8.65pt; width: 18%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Balance, December 31, 2016</b></font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">176,131</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(58,737</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">2,205</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">15,930,145</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">159</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(6,395</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">111,510</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 6%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">14,398</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 7%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">54,254</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Net loss</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(8,876</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(8,876</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(8,431</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(445</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="background-color: #cceeff; padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Assumption of non-controlling interests</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(267</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(267</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Series A preferred stock cash dividend ($1.00 per share)</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(1,105</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(1,105</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="background-color: #cceeff; padding: 0pt 0pt 2pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Balance, December 31, 2017</b></font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt 0pt 2pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">165,883</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(67,613</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">2,205</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">15,930,145</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">159</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(6,395</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">110,138</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">5,967</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">53,809</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Net income</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">182,692</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">173,699</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">173,699</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">8,993</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="background-color: #cceeff; padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Conversion of Series A preferred stock into common stock</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(395</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(400</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">482,716</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">5</font>
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            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
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                    <font style="font-size: 8pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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                    <font style="font-size: 8pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Redemption of Series D preferred stock</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(10,000</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
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            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
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            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
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            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(10,000</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
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            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="background-color: #cceeff; padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Series D preferred dividend</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(7,152</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
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            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
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                    <font style="font-size: 8pt;">Series A preferred stock cash dividend ($1.00 per share)</font>
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                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(901</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Balance, December 31, 2018</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 2pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">321,127</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">106,086</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">5</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">16,412,861</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">164</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(6,395</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">84,885</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">179,666</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">62,802</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="background-color: #cceeff; padding: 0pt 0pt 0pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Net loss</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(21,743</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(15,958</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(15,958</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(5,785</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt; vertical-align: bottom;">
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                    <font style="font-size: 8pt;">(1</font>
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            <td style="padding: 0pt; vertical-align: bottom;">
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                </p>
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            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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            <td style="padding: 0pt; vertical-align: bottom;">
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                </p>
            </td>
        </tr>
        <tr>
            <td style="background-color: #cceeff; padding: 0pt 0pt 1pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">Distribution to equity partner</font>
                </p>
            </td>
            <td style="background-color: #cceeff; padding: 0pt 0pt 1pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
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                    <font style="font-size: 8pt;">(2,867</font>
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                    <font style="font-size: 8pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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                    <font style="font-size: 8pt;">&nbsp;</font>
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            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
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                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
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            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
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                    <font style="font-size: 8pt;">&nbsp;</font>
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            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
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            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
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            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(2,867</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="background-color: #cceeff; border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2pt 8.65pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;"><b>Balance, December 31, 2019</b></font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 2pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">296,516</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">90,128</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">5</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">16,412,861</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">164</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">(6,395</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">82,017</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">163,708</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">57,017</font>
                </p>
            </td>
            <td style="border-bottom: black 2.25pt double; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">The accompanying notes are an integral part of these consolidated financial statements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 42; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->42
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>AMERICAN REALTY INVESTORS, INC.</b></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>C<a name="arl10kb005"></a>ONSOLIDATED STATEMENTS OF CASH FLOWS</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="10" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>For the Years Ended December 31,</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2017</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td colspan="10" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands)</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; width: 67%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Cash Flow From Operating Activities:</b></p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Adjustments to reconcile net (loss) income applicable to common shares to net cash used in operating activities:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Gain on formation of VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(154,126</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Foreign currency transaction loss (gain)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,108</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(12,399</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,536</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Loss on debt extinguishment</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,219</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Gain on sale of land</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,272</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(17,404</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(4,884</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Loss (gain) on sale of income-producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">80</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(16,698</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Depreciation and amortization</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,379</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">22,670</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,679</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Provision on impairment of notes receivable and real estate assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">558</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Amortization of deferred borrowing costs</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">665</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,994</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,591</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Amortization of bond issuance costs</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,544</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,994</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">971</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Equity earnings from VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,774</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(44</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">(Earnings) from unconsolidated subsidiaries and investees</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(461</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,469</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(309</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">(Increase) decrease in assets:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Accrued interest receivable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,792</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(33,279</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(581</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Other assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,255</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(86,796</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,751</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Prepaid expense</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,969</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">19,125</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,192</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Rent receivables</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(618</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,213</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(425</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Related party receivables</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(46,191</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,894</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(12,871</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Increase (decrease) in liabilities:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Accrued interest payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,338</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,316</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,599</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 36pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Other liabilities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,895</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(81,867</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,975</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 45pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net cash (used in) operating activities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(40,641</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(172,332</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(30,126</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Cash Flow From Investing Activities:</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Proceeds from disposition of 50% interest in VAA</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">236,752</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Proceeds from notes receivables</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">19,755</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,541</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">30,233</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Origination of notes receivables</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,434</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(16,801</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,741</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Acquisition of land held for development</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,422</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Acquisition of income producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(10,558</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(37,044</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Proceeds from sale of income producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,296</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,889</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,623</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Proceeds from sale of land</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">27,326</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,857</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,301</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Distribution from equity investee</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,701</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Distributions to equity partner</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(197</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Investment in unconsolidated real estate entities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(267</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Improvement of income producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,257</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,688</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,986</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Construction and development of new properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(28,473</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(81,367</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(76,147</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 45pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net cash (used in) provided by investing activities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,705</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">147,625</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(90,028</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Cash Flow From Financing Activities:</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Proceeds from bonds</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">78,125</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">59,213</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">115,337</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Bond payments</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,742</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Bond issuance costs</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(4,241</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,257</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,887</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Proceeds from notes payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,675</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">123,345</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">135,116</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Recurring payment of principal on notes payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,445</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(124,616</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(86,091</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Payment on commercial note payable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(41,531</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Debt extinguishment costs</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,799</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Acquisition of Series A preferred stock by consolidated subsidiary</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,000</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Deferred financing costs</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,599</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Preferred stock dividends - Series A</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(901</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,105</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 45pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net cash provided by financing activities</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">21,042</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">42,784</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">152,771</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (decrease) increase in cash and cash equivalents</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(23,304</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">18,077</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">32,617</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 1pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Cash and cash equivalents, beginning of period</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">106,615</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">88,538</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">55,921</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Cash and cash equivalents, end of period</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">83,311</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">106,615</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">88,538</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Supplemental disclosures of cash flow information:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 2pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Cash paid for interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">38,904</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">57,981</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">39,732</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;"><b>Schedule of noncash investing and financing activities:</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 9pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">Land received in exchanged for note receivable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,800</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Notes receivable received from sale of income-producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,735</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Seller financing note - acquisition of income-producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,895</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Notes payable issued on acquisition of income-producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">31,175</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Notes payable issued on acquisition of land</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,155</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">The accompanying notes are an integral part of these consolidated financial statements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 43; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->43
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>AMERICAN REALTY INVESTORS, INC.</b>&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>CONS</b><a name="arl10kb006"></a><b>OLIDATED STATEMENTS OF COMPREHENSIVE INCOME</b></p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2017</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: left; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td colspan="10" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands)</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt; width: 67%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 8%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Total comprehensive (loss) income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">182,692</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,876</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt 18pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Comprehensive loss (income) attributable to non-controlling interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,785</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,993</p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">445</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2pt 8.65pt;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-indent: -8.65pt; font: 10pt Times New Roman, Times, Serif;">Comprehensive (loss) income attributable to American Realty Investors, Inc.</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,958</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">173,699</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,431</p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">The accompanying notes are an integral part of these consolidated financial statements.</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->44
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>AMERICAN REALTY INVESTORS, INC.</b>&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>NOTES TO FINA</b><a name="arl10kb007"></a><b>NCIAL STATEMENTS</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The accompanying Consolidated Financial Statements of American Realty Investors, Inc. &#x201C;ARL&#x201D; and consolidated entities have been prepared in conformity with accounting principles generally accepted in the United States of America, the most significant of which are described in Note 1. &#x201C;Organization and Summary of Significant Accounting Policies.&#x201D; The Notes to Consolidated Financial Statements are an integral part of the Consolidated Financial Statements. The data presented in the Notes to Consolidated Financial Statements are as of December&nbsp;31 of each year and for the year then ended, unless otherwise indicated. Dollar amounts in tables are in thousands, except per share amounts.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Certain prior year amounts have been reclassified to conform to the current year presentation on the consolidated statements of operations, consolidated balance sheets and the consolidated statements of cash flows.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 60pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>NOTE 1.</b></font>
                </p>
            </td>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</i></b></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Organization and business.</i></b><i>&nbsp;&nbsp;&nbsp;</i></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company, a Nevada corporation that was formed in 1999, is headquartered in Dallas, Texas and its common stock trades on the New York Stock Exchange (&#x201C;NYSE American&#x201D;) under the symbol &#x201C;ARL&#x201D;. Over 80% of ARL&#x2019;s stock is owned by related party entities. ARL and a subsidiary own approximately 78.38% of the outstanding shares of common stock of Transcontinental Realty Investors, Inc. &#x201C;TCI&#x201D;, a Nevada corporation, whose common stock is traded on the NYSE American under the symbol &#x201C;TCI&#x201D;.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">TCI, a subsidiary of ARL, owns approximately 81.23% of the common stock of Income Opportunity Realty Investors, Inc. &#x201C;IOR&#x201D;. Effective July 17, 2009, IOR&#x2019;s financial results were consolidated with those of ARL and TCI and their subsidiaries. IOR&#x2019;s common stock is traded on the New York Stock Exchange (&#x201C;NYSE American&#x201D;) under the symbol &#x201C;IOR&#x201D;.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ARL&#x2019;s Board of Directors are responsible for directing the overall affairs of ARL and for setting the strategic policies that guide the Company. As of April 30, 2011, the Board of Directors delegated the day-to-day management of the Company to Pillar Income Asset Management, Inc. (&#x201C;Pillar&#x201D;), a Nevada corporation, under a written Advisory Agreement that is reviewed annually by ARL&#x2019;s Board of Directors. The directors of ARL are also directors of TCI and IOR. The Chairman of the Board of Directors of ARL also serves as the Chairman of the Board of Directors of TCI and IOR. The officers of ARL also serve as officers of TCI, IOR and Pillar.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Since April 30, 2011, Pillar, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member of which is Realty Advisors, Inc. &#x201C;RAI&#x201D;, a Nevada corporation, the sole shareholder of which is May Realty Holdings, Inc. (&#x201C;MRHI&#x201D;, formerly known as Realty Advisors Management, Inc. &#x201C;RAMI&#x201D;, effective August 7, 2014), a Nevada corporation, the sole shareholder of which is a trust known as the May Trust, became the Company&#x2019;s external Advisor and Cash Manager.&nbsp; Pillar&#x2019;s duties include, but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities. Pillar also arranges, for the Company&#x2019;s benefit, debt and equity financing with third party lenders and investors. Pillar also serves as an Advisor and Cash Manager to TCI and IOR.&nbsp; As the contractual advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; The Advisor&#x201D;.&nbsp; ARL has no employees. Employees of Pillar render services to ARL in accordance with the terms of the Advisory Agreement.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Regis Realty Prime, LLC, dba Regis Property Management, LLC (&#x201C;Regis&#x201D;), the sole member of which is Realty Advisors, LLC, manages our commercial and provides brokerage services. Regis receives property management fees and leasing commissions in accordance with the terms of its property-level management agreement. Regis is also entitled to receive real estate brokerage commissions in accordance with the terms of a non-exclusive brokerage agreement. See Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; Property Management and Real Estate Brokerage&#x201D;. ARL engages third-party companies to lease and manage its apartment properties.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->45
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On January 1, 2012, the Company&#x2019;s subsidiary, TCI, entered into a development agreement with Unified Housing Foundation, Inc. &#x201C;UHF&#x201D; a non-profit corporation that provides management services for the development of residential apartment projects in the future. This development agreement was terminated December 31, 2013. The Company has also invested in surplus cash notes receivables from UHF and has sold several residential apartment properties to UHF in prior years. Due to this ongoing relationship and the significant investment in the performance of the collateral secured under the notes receivable, UHF has been determined to be a related party.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Southern Properties Capital Ltd. a British Virgin Island corporation (&#x201C;Southern&#x201D; or &#x201C;SPC&#x201D;), is a wholly owned subsidiary of TCI that was incorporated on August 16, 2016 for the purpose of raising funds by issuing debentures that cannot be converted into shares on the Tel-Aviv Stock Exchange (&#x201C;TASE&#x201D;). Southern operates in the United States and is primarily involved in investing in, developing, constructing and operating income-producing properties of multi-family residential real estate assets. Southern is included in the consolidated financial statements of TCI.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On November 19, 2018, we executed an agreement between the Macquarie Group (&#x201C;Macquarie&#x201D;) and Southern and TCI to create a joint venture, Victory Abode Apartments, LLC (&#x201C;VAA&#x201D;) to address existing and future demand for quality multifamily residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. In connection with the formation of the joint venture, Southern and TCI contributed a portfolio of 49 income producing apartment complexes, and 3 development projects in various stages of construction and received cash consideration of $236.8 million. At the time of the transfer of the properties, the joint venture assumed all liabilities of those properties, including mortgage debt to the Department of Housing and Urban Development (&#x201C;HUD&#x201D;).</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">VAA is equally owned and controlled by Abode JVP, LLC, a wholly-owned subsidiary of SPC and Summerset Intermediate Holdings 2 LLC (&#x201C;Summerset&#x201D;), a wholly-owned indirect subsidiary of Macquarie.&nbsp; Pursuant to the Agreement, Abode JVP, LLC and Summerset each own voting and profit participation rights of 50% and 49%, respectively (&#x201C;Class A Members&#x201D;).&nbsp; The remaining 2% of the profits interest is held by Daniel J. Moos, who serves as the President and Chief Executive officer of the Company (&#x201C;Class B Member&#x201D;) and Manager of the joint venture.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Our primary business is the acquisition, development and ownership of income-producing residential and commercial real estate properties. In addition, we opportunistically acquire land for future development in in-fill or high-growth suburban markets. From time to time and when we believe it appropriate to do so, we will also sell land and income-producing properties. We generate revenues by leasing apartment units to residents, and leasing office and retail space to various for-profit businesses as well as certain local, state and federal agencies. We also generate revenues from gains on sales of income-producing properties and land. At December 31, 2019, we owned through our wholly owned subsidiaries ten residential apartment communities comprising of 1,657 units, seven commercial properties comprising an aggregate of approximately 1.7 million rentable square feet, and an investment in 1,951 acres of undeveloped and partially developed land. In addition, our joint venture VAA owns&nbsp;fifty-one&nbsp;residential apartment communities comprised of 9,888 units.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Basis of presentation.</i></b><i>&nbsp;&nbsp;&nbsp;&nbsp;</i>The Company presents its financial statements in accordance with generally accepted accounting principles in the United States (&#x201C;GAAP&#x201D;). The accompanying Consolidated Financial Statements include our accounts, our subsidiaries, generally all of which are wholly-owned, and all entities in which we have a controlling interest. Arrangements that are not controlled through voting or similar rights are accounted for as a Variable Interest Entity (VIE), in accordance with the provisions and guidance of ASC Topic 810 &#x201C;Consolidation&#x201D;, whereby we have determined that we are a primary beneficiary of the VIE and meet certain criteria of a sole general partner or managing member as identified in accordance with Emerging Issues Task Force (&#x201C;EITF&#x201D;) Issue 04-5, Investor&#x2019;s Accounting for an Investment in a Limited Partnership when the Investor is the Sole General Partner and the Limited Partners have Certain Rights (&#x201C;EITF 04-5&#x201D;). VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders as a group lack adequate decision making ability, the obligation to absorb expected losses or residual returns of the entity, or have voting rights that are not proportional to their economic interests. The primary beneficiary generally is the entity that provides financial support and bears a majority of the financial risks, authorizes certain capital transactions, or makes operating decisions that materially affect the entity&#x2019;s financial results. All significant intercompany balances and transactions have been eliminated in consolidation.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including, but not limited to: the amount and characteristics of our investment; the obligation or likelihood for us or other investors to provide financial support; our and the other investors&#x2019; ability to control or significantly influence key decisions for the VIE; and the similarity with and significance to the business activities of us and the other investors. Significant judgments related to these determinations include estimates about the current future fair values and performance of real estate held by these VIEs and general market conditions.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">For entities in which we have less than a controlling financial interest or entities where it is not deemed to be the primary beneficiary, the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of these entities is included in consolidated net income. Our investment in Gruppa Florentina, LLC is accounted for under the equity method.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company in accordance with the VIE guidance in ASC 810 &#x201C;Consolidations&#x201D; consolidates ten multifamily residential properties at December 31, 2019 and&nbsp;nine at December 31, 2018, located throughout the United States ranging from 1,657 units to 1,489 units.&nbsp; Assets totaling approximately $478&nbsp;million and approximately $464 million at December 31, 2019 and 2018, respectively,&nbsp;are consolidated and included in &#x201C;Real estate, at cost&#x201D; on the balance sheet and are all collateral for their respective mortgage notes payable, none of which are recourse to the partnership in which they are in or to the Company.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Real estate, depreciation, and impairment</i>.</b><i>&nbsp;&nbsp;&nbsp;&nbsp;</i>Real estate assets are stated at the lower of depreciated cost or fair value, if deemed impaired. Major replacements and betterments are capitalized and depreciated over their estimated useful lives. Depreciation is computed on a straight-line basis over the useful lives of the properties (buildings and improvements&#x2014;10-40 years; furniture, fixtures and equipment&#x2014;5-10 years). We continually evaluate the recoverability of the carrying value of its real estate assets using the methodology prescribed in ASC Topic 360, &#x201C;Property, Plant and Equipment,&#x201D; Factors considered by management in evaluating impairment of its existing real estate assets held for investment include significant declines in property operating profits, annually recurring property operating losses and other significant adverse changes in general market conditions that are considered permanent in nature. Under ASC Topic 360, a real estate asset held for investment is not considered impaired if the undiscounted, estimated future cash flows of an asset (both the annual estimated cash flow from future operations and the estimated cash flow from the theoretical sale of the asset) over its estimated holding period are in excess of the asset&#x2019;s net book value at the balance sheet date. If any real estate asset held for investment is considered impaired, a loss is provided to reduce the carrying value of the asset to its estimated fair value.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Any properties that are treated as &#x201C;subject to sales contract&#x201D; on the Consolidated Balance Sheets and are listed in detail in Schedule III, &#x201C;Real Estate and Accumulated Depreciation&#x201D; are those in which we have not recognized the legal sale according to the guidance in ASC 360-20 due to various factors, disclosed in each sale transaction under Item 1 Significant Real Estate Acquisitions/Dispositions and Financing. Any sale transaction where the guidance reflects that a sale had not occurred, the asset involved in the transaction, including the debt and property operations, remained on the books of the Company. We continue to charge depreciation to expense as a period costs for the property until such time as the property has been classified as held for sale in accordance with guidance reflected in ASC 360-10-45 &#x201C;Impairment or Disposal of Long-Lived Assets&#x201D;.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Real estate held for sale</i>.</b><i>&nbsp;&nbsp;</i>We classify properties as held for sale when certain criteria are met in accordance with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. We did not have any real estate assets classified as held for sale at December 31, 2019 or 2018.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Effective as of January 1, 2015, we adopted the revised guidance in Accounting Standards Update No.&nbsp;2014-08 regarding discontinued operations. For sales of real estate or assets classified as held for sale after January 1, 2015, we will evaluate whether a disposal transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as discontinued operations for all periods presented; if not, it will be presented in continuing operations.</font>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Any properties that are treated as &#x201C;subject to sales contract&#x201D; on the Consolidated Balance Sheets and are listed in detail in Schedule III, &#x201C;Real Estate and Accumulated Depreciation&#x201D; are those in which we have not recognized the legal sale according to the guidance in ASC 360-20 due to various factors, disclosed in Item 1 &#x201C;Significant Real Estate Acquisitions/Dispositions and Financing.&#x201D; Any sale transaction where the guidance reflects that a sale had not occurred, the asset involved in the transaction, including the debt, if appropriate, and property operations, remained on the books of the Company. We continue to charge depreciation to expense as a period costs for the property until such time as the property has been classified as held for sale in accordance with guidance reflected in ASC 360-10-45 &#x201C;Impairment or Disposal of Long-Lived Assets.&#x201D;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Cost capitalization</i>.</b>&nbsp;&nbsp;&nbsp;&nbsp; The cost of buildings and improvements includes the purchase price of property, legal fees and other acquisition costs. Costs directly related to planning, developing, initial leasing and constructing a property are capitalized and classified as Real Estate in the Consolidated Balance Sheets. Capitalized development costs include interest, property taxes, insurance, and other direct project costs incurred during the period of development.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">A variety of costs are incurred in the acquisition, development and leasing of properties. After determination is made to capitalize a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project is substantially complete and capitalization must cease involves a degree of judgment. Our capitalization policy on development properties is guided by ASC Topic 835-20 &#x201C;Interest &#x2013; Capitalization of Interest&#x201D; and ASC Topic 970 &#x201C;Real Estate - General&#x201D;. The costs of land and buildings under development include specifically identifiable costs. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a construction project as substantially completed and held available for occupancy upon the receipt of certificates of occupancy, but no later than one year from cessation of major construction activity. We cease capitalization on the portion (1)&nbsp;substantially completed and (2)&nbsp;occupied or held available for occupancy, and we capitalize only those costs associated with the portion under construction.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">We capitalize leasing costs which include commissions paid to outside brokers, legal costs incurred to negotiate and document a lease agreement and any internal costs that may be applicable. We allocate these costs to individual tenant leases and amortize them over the related lease term.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Fair value measurement</i></b><i>.&nbsp;&nbsp;&nbsp;&nbsp;</i>We apply the guidance in ASC Topic 820, &#x201C;Fair Value Measurements and Disclosures,&#x201D; to the valuation of real estate assets. These provisions define fair value as the price that would be received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date, establish a hierarchy that prioritizes the information used in developing fair value estimates and require disclosure of fair value measurements by level within the fair value hierarchy. The hierarchy gives the highest priority to quoted prices in active markets (Level 1 measurements) and the lowest priority to unobservable data (Level 3 measurements), such as the reporting entity&#x2019;s own data.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date and includes three levels defined as follows:</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 7%;" nowrap valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Level&nbsp;1</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 3%;" nowrap valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; width: 91%; text-align: justify;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unadjusted quoted prices for identical and unrestricted assets or liabilities in active markets.</font>
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            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 7%;" nowrap valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Level&nbsp;2</font>
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            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 3%;" nowrap valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; width: 91%; text-align: justify;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 7%;" nowrap valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Level&nbsp;3</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 3%;" nowrap valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&#x2014;</font>
                </p>
            </td>
            <td style="padding: 0pt; width: 91%; text-align: justify;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unobservable inputs that are significant to the fair value measurement.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">A financial instrument&#x2019;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Related parties</i>.&nbsp;&nbsp;</b>We apply ASC Topic 805, &#x201C;Business Combinations&#x201D;, to evaluate business relationships. Related parties are persons or entities who have one or more of the following characteristics, which include entities for which investments in their equity securities would be required, trust for the benefit of persons including principal owners of the entities and members of their immediate families, management personnel of the entity and members of their immediate families and other parties with which the entity may deal if one party controls or can significantly influence the decision making of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Recognition of revenue.</i></b><i>&nbsp;&nbsp;&nbsp;&nbsp;</i>Our revenues, which are composed largely of rental income, include rents reported on a straight-line basis over the lease term. In accordance with ASC 805 &#x201C;Business Combinations&#x201D;, we recognize rental revenue of acquired in-place &#x201C;above-&#x201D; and &#x201C;below-market&#x201D; leases at their fair values over the terms of the respective leases.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Reimbursements of operating costs, as allowed under most of our commercial tenant leases, consist of amounts due from tenants for common area maintenance, real estate taxes and other recoverable costs, and are recognized as revenue in the period in which the recoverable expenses are incurred. We record these reimbursements on a &#x201C;gross&#x201D; basis, since we generally are the primary obligor with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier and have the credit risk with respect to paying the supplier.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Rental income for residential property leases is recorded when due from residents and is recognized monthly as earned, which is not materially different than on a straight-line basis as lease terms are generally for periods of one year or less. For hotel properties, revenues for room sales and guest services are recognized as rooms occupied and services rendered. An allowance for doubtful accounts is recorded for all past due rents and operating expense reimbursements considered to be uncollectible.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sales and the associated gains or losses of real estate assets are recognized in accordance with the provisions of ASC Topic 360-20, &#x201C;Property, Plant and Equipment &#x2013; Real Estate Sale&#x201D;. The specific timing of a sale is measured against various criteria in ASC 360-20 related to the terms of the transaction and any continuing involvement in the form of management or financial assistance associated with the properties. If the sales criteria for the full accrual method are not met, the Company defers some or all of the gain recognition and accounts for the continued operations of the property by applying the finance, leasing, deposit, installment or cost recovery methods, as appropriate, until the sales criteria are met.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Foreign currency translation.</i></b><i>&nbsp;&nbsp;&nbsp;</i>Foreign currency denominated assets and liabilities of subsidiaries with local functional currencies are translated to United States dollars at year-end exchange rates. The effects of translation are recorded in the cumulative translation component of shareholders&#x2019; equity. Subsidiaries with a United States dollar functional currency re-measure monetary assets and liabilities at year-end exchange rates and non-monetary assets and liabilities at historical exchange rates. The effects of re-measurement are included in income. Exchange gains and losses arising from transactions denominated in foreign currencies are translated at average exchange rates.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Non-performing notes receivable.</i></b><i>&nbsp;&nbsp;</i>ARL considers a note receivable to be non-performing when the maturity date has passed without principal repayment and the borrower is not making interest payments in accordance with the terms of the agreement.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Interest recognition on notes receivable.&nbsp;&nbsp;</i></b>We record interest income as earned in accordance with the terms of the related loan agreements.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Allowance for estimated losses.</i></b><i>&nbsp;&nbsp;</i>We assess the collectability of notes receivable on a periodic basis, of which the assessment consists primarily of an evaluation of cash flow projections of the borrower to determine whether estimated cash flows are sufficient to repay principal and interest in accordance with the contractual terms of the note. We recognize impairments on notes receivable when it is probable that principal and interest will not be received in accordance with the contractual terms of the loan. The amount of the impairment to be recognized generally is based on the fair value of the partnership&#x2019;s real estate that represents the primary source of loan repayment. See Note 5 &#x201C;Notes and Interest Receivable&#x201D; for details on our notes receivable.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Cash equivalents.</i></b><i>&nbsp;&nbsp;&nbsp;</i>For purposes of the Consolidated Statements of Cash Flows, all highly liquid investments purchased with an original maturity of three months or less are considered to be cash equivalents.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Restricted cash.&nbsp;&nbsp;</i></b>Restricted cash is comprised primarily of cash balances held in escrow by financial institutions under the terms of certain secured notes payable and certain unsecured bonds payable.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Concentration of credit risk.</i></b><i>&nbsp;</i>The Company maintains its cash balances at commercial banks and through investment companies, the deposits of which are insured by the Federal Deposit Insurance Corporation (FDIC). At December 31, 2019 and 2018, the Company maintained balances in excess of the insured amount.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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            &nbsp;</p>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Earnings per share.</i></b><i>&nbsp;&nbsp;&nbsp;</i>Income (loss) per share is presented in accordance with ASC 620 &#x201C;Earnings per Share&#x201D;. Income (loss) per share is computed based upon the weighted average number of shares of common stock outstanding during each year.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Use of estimates.</i></b><i>&nbsp;&nbsp;&nbsp;&nbsp;</i>In the preparation of Consolidated Financial Statements in conformity with GAAP, it is necessary for management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expense for the year ended. Actual results could differ from those estimates.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Income taxes.</i></b><i>&nbsp;&nbsp;&nbsp;</i>The Company is a &#x201C;C&#x201D; corporation for U.S. federal income tax purposes. For tax periods ending before August 31, 2012, the Company filed an annual consolidated income tax return with TCI and IOR and their subsidiaries. ARL was the common parent for the consolidated group. After that date, the Company and the rest of the ARL group joined the MRHI consolidated group for tax purposes. The income tax expense (benefit) for the 2012 tax period in the accompanying financial statement was calculated under a tax sharing and compensating agreement between ARL, TCI and IOR. That agreement continued until August 31, 2012, at which time a new tax sharing and compensating agreement was entered into by ARL, TCI, IOR and MRHI for the remainder of 2012 and subsequent years. The agreement specifies the manner in which the group will share the consolidated tax liability and also how certain tax attributes are to be treated among members of the group.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Recent accounting pronouncements</i></b><i>.</i>&nbsp;&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: #212529; font-family: Times New Roman, Times, Serif; font-size: 10pt;">In December 2019, the FASB issued ASU 2019-12,&nbsp;<i>Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.&nbsp;</i>The amendments in this Update simplify the accounting for income taxes by removing certain exceptions from ASC 740. Also, the amendments in this Update simplify the accounting for income taxes by requiring that an entity recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax, requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination, and other targeted changes. The effective date of the amendments is for fiscal years, and interim periods within those years, beginning after December 15, 2020. The Company is currently evaluating the impact that the adoption of ASU 2019-12 may have on its consolidated financial statements.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: #212529; font-family: Times New Roman, Times, Serif; font-size: 10pt;">In October 2018, the FASB issued ASU 2018-17,&nbsp;<i>Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities</i>. This standard is intended to improve the accounting when considering indirect interests held through related parties under common control for determining whether fees paid to decision makers and service providers are variable interests. The effective date of the amendments is for fiscal years, and interim periods within those years, beginning after December 15, 2019. The new standard must be adopted retrospectively with early adoption permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">In August 2018, the FASB issued ASU 2018-13,&nbsp;<i>Fair Value Measurement (Topic 820): Disclosure Framework&#x2014;Changes to the Disclosure Requirements for Fair Value Measurement&nbsp;</i>that eliminates, adds and modifies certain disclosure requirements for fair value measurements. The effective date of the standard is for fiscal periods, and interim periods within those years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively. All other amendments should be applied retrospectively. Early adoption is permitted. </font>
        <font style="color: #212529; font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard amends the existing lease accounting guidance and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods, but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable period presented, with an option to elect certain transition relief. ASU 2016-02 was effective for reporting periods beginning after December 15, 2018. The adoption of ASU 2016-02 did not have a material impact on the Company&#x2019;s financial position and results of operations.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
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        <p style="margin: 0pt">&nbsp;</p>
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    <P STYLE="text-align: justify; margin: 0pt; font: 10pt Times New Roman, Times, Serif">
        <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">In May 2014, Accounting Standards Update (&#x201C;ASU&#x201D;) No. 2014-09 (&#x201C;ASU 2014-09&#x201D;), &#x201C;Revenue from Contracts with Customers,&#x201D; was issued. This new guidance established a new single comprehensive revenue recognition model and provides for enhanced disclosures. Under the new policy, the nature, timing and amount of revenue recognized for certain transactions could differ from those recognized under existing accounting guidance. This new standard does not affect revenue recognized under lease contracts. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017. As the majority of the Company&#x2019;s revenue is from rental revenue related to leases, the Company has determined that the adoption of this Standard was immaterial to the consolidated financial statements and related disclosures.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 60pt; vertical-align: top; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>NOTE 2.</b></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; white-space: nowrap;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>INVESTMENT IN VAA</i></b></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">On November 19, 2018, TCI executed an agreement with Macquarie Group (&#x201C;Macquarie&#x201D;) to create a joint venture, Victory Abode Apartments, LLC (&#x201C;VAA&#x201D;) to address existing and future demand for quality multifamily residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. In connection with the formation of the joint venture, TCI contributed a portfolio of 49 income producing apartment complexes, and 3 development projects in various stages of construction. TCI received cash consideration of $236.8 million and recognized a gain of approximately $154.1 million. At the time of the transfer of the properties, the joint venture assumed all liabilities of those properties, including mortgage debt to the Department of Housing and Urban Development (&#x201C;HUD&#x201D;).</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">VAA is equally owned and controlled by Abode JVP, LLC, a wholly-owned subsidiary of Southern and Summerset Intermediate Holdings 2 LLC (&#x201C;Summerset&#x201D;), a wholly-owned indirect subsidiary of Macquarie.&nbsp; Pursuant to the Agreement, Abode JVP, LLC and Summerset each own voting and profit participation rights of 50% and 49%, respectively (&#x201C;Class A Members&#x201D;).&nbsp; The remaining 2% of the profit participation interest is held by Daniel J. Moos ARL&#x2019;s President and Chief Executive Officer (&#x201C;Class B Member&#x201D;) who serves also as the Manager of the joint venture.&nbsp;In addition, upon the closing of the agreement the Class B Member received a one-time consideration payment of $1.9 million.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company accounts for its investment in VAA under the equity method of accounting. Under the equity method of accounting, our net equity in the investment is reflected within the Consolidated Balance Sheets in the caption &#x2018;Investment in VAA&#x2019;, and our share of the net income or loss from the joint venture is included within the Consolidated Statements of Operations in the caption &#x2018;Earnings from VAA&#x2019;. The joint venture agreements may designate different percentage allocations among investors for profits and losses; however, our recognition of joint venture income or loss generally follows the joint venture&#x2019;s distribution priorities, which may change upon the achievement of certain investment return thresholds and other agreed upon adjustments.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The following is a summary of the financial position and results of operations of VAA (dollars in thousands):</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font: 10pt Times New Roman, Times, Serif;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: bottom;">
            <td style="font-size: 11pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="7">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">As of December 31,</font>
            </td>
        </tr>
        <tr style="vertical-align: bottom;">
            <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Balance Sheet</font>
            </td>
            <td style="padding-bottom: 1pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2019</font>
            </td>
            <td style="padding-bottom: 1pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2018</font>
            </td>
        </tr>
        <tr style="vertical-align: bottom;">
            <td style="font-size: 11pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="width: 56%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Net real estate assets</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 14%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,242,957</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 14%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,257,557</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other assets</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">62,222</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">67,020</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Debt, net</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(832,779</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(791,225</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other liabilities</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(271,291</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(280,288</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total equity</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(201,109</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(253,064</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
    </table>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font: 10pt Times New Roman, Times, Serif;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: bottom;">
            <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Results of Operations</font>
            </td>
            <td style="padding-bottom: 1pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">For the Year Ended December 31, 2019</font>
            </td>
            <td style="padding-bottom: 1pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">For the period November 19 to December 31, 2018</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="width: 56%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total revenue</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 14%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">115,377</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 14%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12,887</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total property, operating, and maintenance expenses</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(56,967</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(4,507</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Interest expense</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(61,487</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(5,818</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Depreciation and Amortization</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(43,942</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(6,987</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total other expense</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(3,377</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(5,297</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-bottom: 2.5pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Net loss</font>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(50,396</font>
            </td>
            <td style="padding-bottom: 2.5pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(9,722</font>
            </td>
            <td style="padding-bottom: 2.5pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
    </table>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <!-- Field: Page; Sequence: 51; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->51
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">The following is a reconciliation from VAA&#x2019;s net loss to TCI&#x2019;s equity in earnings from VAA (dollars in thousands):</p>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: bottom;">
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">For the Year Ended December 31, 2019</font>
            </td>
            <td style="padding-bottom: 1pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="3">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">For the period November 19 to December 31, 2018</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="width: 56%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">VAA net loss</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 14%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(50,396</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 14%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(9,722</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left; font-style: italic;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Adjustments to reconcile to income (loss) from VAA</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;Interest expense on mezzanine loan</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">25,014</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,815</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;In-place lease intangibles - amortization expense</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,703</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,983</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;Depreciation basis differences</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5,132</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,012</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-bottom: 2.5pt; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;Net loss</font>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(5,547</font>
            </td>
            <td style="padding-bottom: 2.5pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">88</font>
            </td>
            <td style="padding-bottom: 2.5pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Percentage ownership in VAA</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">50</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">50</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Loss from VAA</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(2,774</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">44</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
    </table>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">The following table sets forth the location of our real estate held for investment (income-producing properties only) by asset type as of December 31, 2019:</p>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 50%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt;" valign="bottom"></td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; white-space: nowrap;" colspan="6">
                <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Apartments</b></font>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="border-bottom: 1pt solid black; padding: 0pt; width: 24%;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Location</b></font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>No.</b></font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Units</b></font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Alabama</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">168</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Arkansas</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">5</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,122</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Colorado</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">260</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Florida</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">388</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Georgia</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">222</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Louisiana</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">3</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">464</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Mississippi</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">196</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">North Carolina</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">201</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Nevada</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">308</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Tennessee</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">4</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">708</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Texas-Greater Dallas-Ft Worth</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">19</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,709</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Texas-Greater Houston</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">416</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Texas-Other</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">9</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,726</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;Total</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>51</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>9,888</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">At December 31, 2019, our apartment projects in development included (dollars in thousands):</p>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; font-size: 10pt; border-collapse: collapse;" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>Property</b></font>
            </td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>Location</b></font>
            </td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; font-family: Calibri,sans-serif;" colspan="2">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>No. of Units</b></font>
            </td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; font-family: Calibri,sans-serif;" colspan="2">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>Costs to Date&nbsp;<sup>(1)</sup></b></font>
            </td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; font-family: Calibri,sans-serif;" colspan="2">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>Total Projected Costs&nbsp;<sup>(1)</sup></b></font>
            </td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="width: 34%; vertical-align: bottom; white-space: nowrap; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">Lakeside Lofts apartments</font>
            </td>
            <td style="width: 1%; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 25%; vertical-align: bottom; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">Farmers Branch, TX</font>
            </td>
            <td style="width: 1%; vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 1%; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 1%; vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 10%; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">249</font>
            </td>
            <td style="width: 1%; vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 1%; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 1%; vertical-align: bottom; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 10%; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;50,357</font>
            </td>
            <td style="width: 1%; vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 1%; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="width: 1%; vertical-align: bottom; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 10%; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80,622</font>
            </td>
            <td style="width: 1%; vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
        </tr>
        <tr>
            <td style="vertical-align: bottom; white-space: nowrap; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">Total&nbsp;</font>
            </td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="vertical-align: bottom;"></td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 2.25pt double; border-top: black 1pt solid; vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 2.25pt double; border-top: black 1pt solid; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>249</b></font>
            </td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;"></td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 2.25pt double; border-top: black 1pt solid; vertical-align: bottom; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: black 2.25pt double; border-top: black 1pt solid; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>&nbsp;50,357</b></font>
            </td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="font-family: Calibri,sans-serif;">&nbsp;</td>
            <td style="border-bottom: black 2.25pt double; border-top: black 1pt solid; vertical-align: bottom; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: black 2.25pt double; border-top: black 1pt solid; vertical-align: bottom; text-align: right; font-family: Calibri,sans-serif;">
                <font style="font-family: Times New Roman,serif; font-size: 10pt;"><b>&nbsp;&nbsp;&nbsp;80,622</b></font>
            </td>
            <td style="vertical-align: bottom; font-family: Calibri,sans-serif;">&nbsp;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;</font>
    </p>
    <p style="margin: 0; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1) Costs include construction hard costs, construction soft costs and loan borrowing costs.&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font: 10pt Times New Roman, Times, Serif;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">During 2019, the Company received $19.4 million cash distribution from VAA as a result of the annual surplus cash computation from its HUD collaterized residential properties and other amounts owed to the Company as agreed to in the joint venture operating agreement.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <!-- Field: Page; Sequence: 52; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->52
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 60pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>NOTE 3.</b></font>
                </p>
            </td>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>REAL ESTATE</i></b></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">At December 31, 2019 and 2018, ARL&#x2019;s real estate investment is comprised of the following (dollars in thousands):</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 80%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="6" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>December 31,</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2019</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2018</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 54%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Apartments</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">156,173</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">126,274</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Apartments under construction</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">22,363</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">21,916</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Commercial properties</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">229,424</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">224,162</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Land held for development</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">62,037</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">83,641</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Real estate subject to sales contract</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">7,966</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">,149</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total real estate, at cost, less impairment</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">477,963</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">459,142</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Less accumulated deprecation</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(90,173</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(78,099</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total real estate, net of depreciation</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">387,790</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-top: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; border-left-style: none; border-right-style: none; border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">81,043</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Expenditures for repairs and maintenance are charged to operations as incurred. Significant betterments are capitalized. When assets are sold or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses reflected in net income or loss for the period.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Depreciation is computed on a straight line basis over the estimated useful lives of the assets as follows:</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font: 10pt Times New Roman, Times, Serif;">&nbsp;</font>
    </p>
    <table style="margin: 0px 0px 0px 0.5in; width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 50%; vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Land improvements</font>
                </p>
            </td>
            <td style="width: 50%; vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">25 to 40 years</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Buildings and improvements</font>
                </p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10 to 40 years</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Tenant improvements</font>
                </p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Shorter of useful life or terms of related lease</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Furniture, fixtures and equipment</font>
                </p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3 to 7 years</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>Fair Value Measurement</i></b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company applies the guidance in ASC Topic 820, &#x201C;Fair Value Measurements and Disclosures,&#x201D; to the valuation of real estate assets.&nbsp;
            <font style="color: #252525;">The Company is required to assess the fair value of its consolidated real estate assets with indicators of impairment. The value of impaired real estate assets is determined using widely accepted valuation techniques, including discounted cash flow analyses on the expected cash flow of each asset, as well as the income capitalization approach, which considers prevailing market capitalization rates, analyses of recent comparable sales transactions, information from actual sales negotiations and bona fide purchase offers received from third parties. The methods used to measure fair value may produce an amount that may not be indicative of net realizable value or reflective of future values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</font>
        </font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: #252525; font-family: Times New Roman, Times, Serif; font-size: 10pt;">The fair value measurements used in these evaluations are considered to be Level 2 and 3 valuations within the fair value hierarchy in the accounting rules, as there are significant observable (Level 2) and unobservable inputs (Level 3). Examples of Level 2 inputs the Company utilizes in its fair value calculations are appraisals and bona fide purchase offers from third parties. Examples of Level 3 inputs the Company utilizes in its fair value calculations are discount rates, market capitalization rates, expected lease rental rates, timing of new leases, an estimate of future sales prices and comparable sales prices of similar assets, if available.&nbsp;There was no provision for impairment during the years ended December 31, 2019, 2018 and 2017.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->53
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The following is a description of the Company&#x2019;s significant real estate transactions for the year ended December 31, 2019:</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sold 35.9 acres of land located in Farmers Branch, Texas for an aggregate sales price of $18.9 million and recognized a gain on the sale of $9.0 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sold 29.4 acres of land located in Forney, Texas for a total sales price of $5.0 million and recognized a gain on the sale of approximately $4.1 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sold 10.33 acres of land located in Dallas, Texas for a total sales price of $2.1 million and recognized a gain on the sale of approximately $0.4 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sold 6.25 acres of land located in Nashville, Tennessee for a total sales price of $2.3 million and recognized a gain on the sale of approximately $0.9 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sold 23.24 acres of land located in Fort Worth, Texas for a total sales price of $1.8 million and recognized a gain on the sale of approximately $0.5 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Sold a multifamily residential property, located in Mary Ester, Florida for a total sales price of $3.1 million out of which $1.8 million represents land received with a total acreage of 1.27 acres located in Riverside, California in exchange for a note receivable of the same value. The Company recognized a loss from this sale of approximately $0.08 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Purchased 33.05 acres of land in Athens, Alabama for a total purchase price of $2.1 million, out of which $0.9 million was paid in cash and the remaining balance of $1.2 million was issued as a note payable. The note payable matures in eighteen months and bears an annual interest rate of 5.91%.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Purchased from a third party 8.94 acres of land located in Collin County, Texas for a total purchase price of $2.5 million.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="width: 18pt;" valign="top"></td>
            <td style="width: 18pt;" valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x25CF;</font>
                </p>
            </td>
            <td valign="top">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Purchased an option to buy 37.8 acres of land (6.3 acres located in Collin County, Texas and 31.5 acres located in Clark County, Nevada) for $2.0 million from a third party land developer.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company continues to invest in the development of apartment projects. During the year ended December 31, 2019, ARL through its subsidiaries have invested $28.5 million related to the construction and development of various apartment complexes and capitalized $0.8 million of interest costs.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 60pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>NOTE 4.</b></font>
                </p>
            </td>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>SUPPLEMENTAL CASH FLOW INFORMATION</i></b></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">For the years ended December 31, 2019 and 2018, the Company paid interest expense&nbsp;of approximately $38.9 million and $59.7 million, respectively.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Cash and cash equivalents, and restricted cash for fiscal year ended 2019 and 2018&nbsp;was $83.3&nbsp;million and $106.6 million, respectively. The following is a reconciliation of the Company&#x2019;s cash and cash equivalents, and restricted cash to the total presented in the consolidated statement of cash flows:</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 80%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="6" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>December 31,</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2019</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2018</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 54%;" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Cash and cash equivalents</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">51,228</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">36,428</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Restricted cash (cash held in escrow)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">15,540</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">37,928</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Restricted cash (certificate of deposits)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,759</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">9,687</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Restricted cash (held with Trustee)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">12,784</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">22,572</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0.25in; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total cash, cash equivalents and restricted cash</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">83,311</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">106,615</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Amounts included in restricted cash represent funds required to meet contractual obligations with certain financial institutions for the payment of reserve replacement deposits and tax and insurance escrow. In addition, restricted cash includes funds to the Bond&#x2019;s Trustee for payment of principal and interests.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <!-- Field: Page; Sequence: 55; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->55
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>NOTE 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOTES AND INTEREST RECEIVABLE&nbsp;</i></b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">A portion of our assets are invested in mortgage notes receivable, principally secured by real estate. We may originate mortgage loans in conjunction with providing purchase money financing of property sales. Notes receivable are generally collateralized by real estate or interests in real estate and personal guarantees of the borrower and, unless noted otherwise, are so secured. Management intends to service and hold for investment the mortgage notes in our portfolio. A majority of the notes receivable provide for principal to be paid at maturity (dollars in thousands).&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td colspan="2" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Maturity</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Interest</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Borrower</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Date</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Rate</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Amount </b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Security</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 42%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Performing loans:</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 17%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Prospectus Endeavors 4, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">01/23</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5,907</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Prospectus Endeavors 6, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10/22</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">496</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Oulan-Chikh Family Trust</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">03/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">8.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">174</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">H198, LLC (McKinney Ranch Land)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">09/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">4,554</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Forest Pines</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">11/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,868</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Spyglass Apartments of Ennis, LP</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">11/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5,288</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Bellwether Ridge</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">05/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,765</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Parc at Windmill Farms</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">05/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">7,602</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Autumn Breeze</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,302</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Plum Tree</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">413</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Ingleside</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,531</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">RNC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">09/24</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">8,802</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Revolving Line of Credit Steeple Crest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,665</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">RAI PFBL 2018 Purch Fee Note Weatherford</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">525</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Echo Station) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,481</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Inwood on the Park) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,639</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Kensington Park) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,933</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,369</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,732</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,953</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">4,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Reserve at White Rock Phase I) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Reserve at White Rock Phase II) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Timbers of Terrell) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,323</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Tivoli) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Trails at White Rock) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,815</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10,401</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unsecured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">06/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5,314</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unsecured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">03/22</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">4,782</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unsecured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">07/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">838</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">07/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">773</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Marquis at Vista Ridge) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">07/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">839</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Timbers at the Park) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">07/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">432</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Trails at White Rock) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">07/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">913</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. (Bella Vista) <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">08/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">212</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Secured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10/21</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,831</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unsecured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unified Housing Foundation, Inc. <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/32</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">497</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unsecured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Realty Advisors Management, Inc. <sup>(1)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12/22</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2.28</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">20,387</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unsecured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">One Realco Corporation</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">01/20</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3.00</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">7,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Unsecured</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other related party notes <sub>(1) (2)</sub></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,553</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various secured interests</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other non-related party notes</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10,276</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Various secured interests</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Accrued interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">13,114</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Total Performing</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">169,299</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Allowance for estimated losses</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(13,099</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Total </b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>156,200</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 3%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)</sup></font>
                </p>
            </td>
            <td style="padding: 0pt; width: 97%;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Related party notes.</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(2)</sup></font>
                </p>
            </td>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">An allowance was taken for estimated losses at full value of note.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="background-color: white; font-family: Times New Roman, Times, Serif; font-size: 10pt;">As of December 31, 2019, the obligors on approximately $103.5 million of the mortgage notes receivable portfolio were due from related parties. The Company recognized $11.0 million of interest income from these related party notes receivables. In addition, during the quarter ended June 30, 2019, our subsidiary TCI purchased notes receivables with a face value of $29.0 million (out of which $1.0 million represented accrued interest receivables) from related parties.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">As of December 31, 2019 none of the mortgage notes receivable portfolio were non-performing.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <!-- Field: Page; Sequence: 56; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->56
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company has various notes receivable from Unified Housing Foundation, Inc. &#x201C;UHF&#x201D;. UHF is determined to be a related party due to our significant investment in the performance of the collateral secured under the notes receivable. Payments are due from surplus cash flow from operations, sale or refinancing of the underlying properties. These notes are cross collateralized to the extent that any surplus cash available from any of the properties underlying these notes will be used to repay outstanding interest and principal for the remaining notes. Furthermore, any surplus cash available from any of the properties UHF owns, besides the properties underlying these notes, can be used to repay outstanding interest and principal for these notes. The allowance on the notes was a purchase allowance that was netted against the notes when acquired.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 60pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>NOTE 6.</b></font>
                </p>
            </td>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><i>INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES</i></b></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Investments in unconsolidated subsidiaries, jointly owned companies and other investees in which we have a 20% to 50% interest or otherwise exercise significant influence are carried at cost, adjusted for the Company&#x2019;s proportionate share of their undistributed earnings or losses, via the equity method of accounting.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">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 &#x2018;Investment in VAA&#x2019;.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company owns a 20% interest in Gruppa Florentina, LLC which is the sole shareholder of Milano Restaurants International Corporation, (&#x201C;Milano&#x201D;) which operates 33 pizza parlors under the trade name &#x201C;Me-N-Ed&#x2019;s Pizza Parlors&#x201D; and four pizza parlors operating under the trade name &#x201C;Blast 825 Pizza&#x201D;, located primarily in Central and Northern California.&nbsp; Milano has a 100% ownership interest in Siena Corp, which operates two grills under the trade names &#x201C;Me-N-Ed&#x2019;s Victory Grill&#x201D; and &#x201C;Me-N-Ed&#x2019;s Coney Island Grill&#x201D;. Milano has a 100% ownership interest in Piazza del Pane, Inc., which operates two restaurants located in Central California. Milano also has 23 franchised locations, including two operating, under the trade name Angelo &#38; Vito&#x2019;s Pizzerias.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The following is a summary of the financial position and results of operations from our investees (dollars in thousands):</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; text-align: center;" colspan="10" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>As of December 31,</b>&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2019</b></font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt; width: 12%; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2018</b></font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt; width: 15%; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2017</b></font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><u>SUMMARY OF FINANCIAL POSITION</u>:</b></font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Real estate, net of accumulated depreciation</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">13,041</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">13,810</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">12,587</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Notes receivable</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">11,076</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">11,238</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,724</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other assets</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">33,708</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">32,566</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">32,176</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Notes payable</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(10,195</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(11,287</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(17,845</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other liabilities</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(6,328</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(7,320</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(5,991</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Shareholders&#x2019; equity/partners capital</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(41,302</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(39,007</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(23,651</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="10" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>For the Year Ended December 31,</b></font>
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom-style: none; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;"></td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2019</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2018</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2017</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b><u>SUMMARY OF OPERATIONS</u>:</b></font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="vertical-align: top; text-align: center;" colspan="2">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 58%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Revenue</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">55,241</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">53,834</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">38,747</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Depreciation</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1,456</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1,456</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1,279</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Operating expenses</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(50,861</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(49,647</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(35,410</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Interest expense</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(621</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(673</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1,065</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Income (loss) from continuing operations</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,303</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,058</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">993</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Net income (loss)</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,303</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,058</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">993</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Company&#x2019;s 20% proportionate share of earnings</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">461</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">412</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">199</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <!-- Field: Page; Sequence: 57; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->57
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>NOTE 7.&nbsp;&nbsp;&nbsp;&nbsp;<i>NOTES AND INTEREST PAYABLE</i></b>&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Below is a summary of our notes and interest payable as of December 31, 2019 and 2018 (dollars in thousands):&nbsp;&nbsp;</font>
    </p>
    <table style="margin: 0px 0px 0px 0.15in; width: 80%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="6" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>December 31,</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2019</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2018</b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 54%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Apartments</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">120,024</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">94,759</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Apartments under Construction</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">9,017</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,402</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Commercial</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">92,838</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">136,327</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Land</font>
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">19,128</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">27,520</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Corporate and other notes</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">20,429</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">22,527</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total notes payable</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black; border-left: none; border-right: none; border-top: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">261,436</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">295,535</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Less: unamortized deferred borrowing costs</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(7,342</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(9,428</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total outstanding notes payable, net</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">254,094</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">286,107</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Accrued Interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">779</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">861</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total notes payable, net and accrued interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">254,873</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-top: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black; border-left: none; border-right: none; border-top: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">286,968</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The following table summarizes our contractual obligations for principal payments as of December 31, 2019 (dollars in thousands):</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="margin: 0px 0px 0px 0.15in; width: 30%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center;" nowrap>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Year </b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Amount </b></font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 17%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2020</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">34,304</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2021</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">55,393</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2022</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">13,437</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2023</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">36,770</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2024</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,995</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Thereafter</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 1pt solid black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">119,537</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" nowrap valign="bottom">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black;" nowrap valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">261,436</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Interest payable at December 31, 2019 and 2018, was approximately $.08 million and $.09 million, respectively. Our debt has interest rates ranging from 2.5% to 9.75%&nbsp;per annum with maturity dates between 2021 and 2059. The mortgages were collateralized by deeds of trust on real estate having a net carrying value of $311.5 million.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">There are various land mortgages, secured by the property, that are in the process of a modification or extension to the original note due to expiration of the loan. We are in constant contact with these lenders, working together in order to modify the terms of these loans and we anticipate a timely resolution that is similar to the existing agreement or subsequent modification.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In conjunction with the development of various apartment projects and other developments, we drew down $8.5 million and $81.0 million in construction loans during the year ended December 31, 2019, and 2018, respectively.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->58
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54pt; text-indent: -54pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 8.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>BONDS AND BONDS INTEREST PAYABLE</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In August 2016, Southern Properties Capital LTD (&#x201C;Southern&#x201D;), a British Virgin Islands corporation was incorporated for the purpose of raising funds by issuing Bonds to be traded on the Tel Aviv Stock Exchange (&#x201C;TASE&#x201D;).&nbsp; The Company transferred certain residential and commercial properties located in the United States to Southern, its wholly owned subsidiary.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On February 13, 2017, Southern filed a final prospectus with the TASE for an offering and sale of nonconvertible Series A Bonds to be issued by Southern. The bonds are obligations of Southern.&nbsp; During the year ended December 31, 2017 on three separate occasions Southern issued nonconvertible Series A Bonds with a total value of approximately NIS400 million New Israeli Shekels (&#x201C;NIS&#x201D;) or approximately $115 million dollars.&nbsp; The Series A Bonds have a stated interest rate of 7.3%.&nbsp; At March 31, 2018 the effective interest rate is 9.17%. The bonds require semi-annual equal installments on January 31 and July 31 of each year from 2019 to 2023 (inclusive). The interest will be repaid on January 31 and July 31 of each of the years 2018 to 2023 (inclusive), with the first payment commencing on July 31, 2017.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On January 25, 2018, interest payment of approximately NIS 14.6 million (or approximately $4.3 million) was paid to the Series A bondholders.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On February&nbsp;15, 2018, Southern issued Series B bonds in the amount of NIS&nbsp;137.7 million par value (approximately $39.2 million as of February&nbsp;15, 2018). The Series B bonds are registered on the TASE. The bonds are reported in NIS and bear annual interest rate of 6.8%. Interest shall be repaid January&nbsp;31 and July 31 of each of the years 2019 to 2023 (inclusive), first payment commencing on July 31, 2018. The principal shall be repaid in ten equal installments on January 31 and July&nbsp;31 of each of the years from 2021 to 2025 (inclusive). A total bond issuance cost of $1.4 million was incurred. The effective interest rate is 7.99%.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On July 19, 2018, Southern closed a private placement of its Series B bonds in the amount of NIS 72.3 million (or approximately $19.8 million). The bonds are reported in NIS, are registered on the TASE, bear an annual interest rate of 6.8% and have an effective interest rate of 9.60%. Interest will be paid on January 31 and July 31 of each of the years 2019 and 2013 (inclusive). The principal will be repaid in ten equal installment on January 31 and July 31 of each of the years from 2021 to 2012 (inclusive). The Company incurred bonds issuance costs of approximately $1.9 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On July 26, 2018, interest payment of approximately NIS 18.9 million (or approximately $5.2 million) was paid to the Series A and B bondholders.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On July 28, 2019, SPC issued Series C bonds in the amount of NIS 275 million (or approximately $78.1 million). The bonds are reported in NIS, and registered on the TASE, and bear an annual interest of 4.65%. The interest will be paid on January 31 and July 31 of each of the years 2020 through 2023, with the principal payment due in 2023. The Company incurred bond issuance costs of approximately $4.2 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On September 23, 2019, Southern entered into a foreign exchange risk hedging transaction agreement with Bank Leumi with the aim of hedging the risk that the NIS exchange rate against the dollar will fall below 3, thereby reducing the exposure of the bonds (Series A, B and C) to exchange rate volatility.&nbsp; The term of the agreement is six months and the face value of the transaction is NIS 664 million ($ 221 million).&nbsp; The hedge transaction costs as well as the fair value as of December 31, 2019 are immaterial.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">During the year ended December 31, 2019, the Company made payments of $21.8 million and $11.6 million on bond principal and interests, respectively.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On January 27, 2020, the Company made payments of NIS 60.6 million in bond principal on the Series A and interests on the Series A, B, C (or approximately $17.6 million).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">On February 2, 2020, S&amp;P Global Ratings announced the increase
of the Company's issuer rating to 'ilA-' from 'ilBBB+' for Bonds (Series A and B). In addition, Series C bond rating (secured by
one of SPC&rsquo;s commercial properties) increase to 'ilA' from 'ilA-' rating due to the expectation of continued improvement
in coverage ratios and the expansion of Company&rsquo;s portfolio.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">The outstanding balance of these Bonds at December 31, 2019 and 2018 were as follows:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; text-align: center;" colspan="6" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b><font style="color: black;"><font style="color: black;">December 31,</font></font></b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b><font style="color: black;"><font style="color: black;">2019</font></font></b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b><font style="color: black;"><font style="color: black;">2018</font></font></b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 64%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Bonds (Series A)</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">92,653</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">106,686</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Bonds (Series B)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">39,844</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">36,740</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Bonds (Series B expansion)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">20,920</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">19,290</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Bonds (Series C)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">79,572</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Total outstanding bonds</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">232,989</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">162,716</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Less: deferred bond issuance costs</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(9,724</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(8,179</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Total outstanding bonds, net</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">223,265</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">154,537</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Accrued Interest</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">6,457</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">4,037</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Total oustanding bonds, net and accrued interest</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">229,722</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">158,574</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">The aggregate maturities of the bonds are as follows:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 60%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Year</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b><font style="color: black;"><font style="color: black;">Aggregate <br>Maturities</font></font></b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 47%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2020</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">23,148</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2021</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">35,301</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2022</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">35,301</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2023</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">114,873</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2024</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12,153</font>
                </p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Thereafter</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12,213</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2pt double;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2pt double;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">232,989</font>
                </p>
            </td>
            <td style="padding-bottom: 2pt;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The recorded unrealized gain or loss is reflected as a separate line item to highlight the fact that it is a non-cash transaction until such time as actual payment of principal and interest on the bonds is made. For the year ended December 31, 2019 and 2018, the Company recorded a loss on foreign currency transaction of approximately $15.1 million, and a gain of $12.4 million, respectively.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 9. <i>RELATED PARTY TRANSACTIONS AND FEES</i></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We apply ASC Topic 805, &#x201C;Business Combinations,&#x201D; to evaluate business relationships. Related parties are persons or entities who have one or more of the following characteristics, which include entities for which investments in their equity securities would be required, trust for the benefit of persons including principal owners of the entities and members of their immediate families, management personnel of the entity and members of their immediate families and other parties with which the entity may deal if one party controls or can significantly influence the decision making of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company has historically engaged in and may continue to engage in certain business transactions with related parties, including but not limited to asset acquisition and dispositions. Transactions involving related parties cannot be presumed to be carried out on an arm&#x2019;s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in our best interest.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Since April 30, 2011, Pillar, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member of which is RAI, a Nevada corporation, the sole shareholder of which is MRHI, a Nevada corporation, the sole shareholder of which is a trust known as the May Trust, became the Company&#x2019;s external Advisor and Cash Manager.&nbsp; Pillar&#x2019;s duties include, but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities. Pillar also arranges, for the Company&#x2019;s benefit, debt and equity financing with third party lenders and investors. Pillar also serves as an Advisor and Cash Manager to TCI and IOR.&nbsp; As the contractual advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; The Advisor.&#x201D;&nbsp; ARL has no employees. Employees of Pillar render services to ARL in accordance with the terms of the Advisory Agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Regis Realty Prime, LLC, dba Regis Property Management, LLC (&#x201C;Regis&#x201D;), the sole member of which is Realty Advisors, LLC, manages our commercial properties and provides brokerage services. Regis receives property management fees and leasing commissions in accordance with the terms of its property-level management agreement. Regis is also entitled to receive real estate brokerage commissions in accordance with the terms of a non-exclusive brokerage agreement. See Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; Property Management and Real Estate Brokerage.&#x201D; &nbsp;ARL engages third-party companies to lease and manage its apartment properties.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Below is a description of the related party transactions and fees between Pillar and Regis for each of the three years ended December 31, 2019:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Fees, expenses, and revenue paid to and/or received from our advisor:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="float: none; margin: 0px auto 0px 0.5in; width: 95%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; text-align: center;" colspan="10" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>For the years ended December 31,</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2019</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2018</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt; text-align: center;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2017</b></p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;" colspan="10" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">(dollars in thousands)</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 56%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Fees:</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Advisory</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,612</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,475</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,082</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Mortgage brokerage and equity refinancing</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">852</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,712</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Net income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">357</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">631</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">250</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,969</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,958</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,044</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Other Expense:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Cost reimbursements</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,265</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,720</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,240</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Interest paid (received)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(4,686</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,370</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,195</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(421</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,350</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,045</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Revenue:</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Rental</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,311</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,178</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">783</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Fees paid to Regis and related parties:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="float: none; margin: 0px auto 0px 0.15in; width: 97%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; text-align: center;" colspan="10" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>For the years ended December 31,</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; text-align: center;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2019</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt; text-align: center;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2018</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid #000000; padding: 0pt; text-align: center;" colspan="2" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2017</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;" colspan="10" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">(dollars in thousands)</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 58%; vertical-align: bottom;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Fees:</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Property acquisition</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">318</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">32,008</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9,128</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Property management, construction management and leasing commissions</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">165</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">540</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">963</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">Real estate brokerage</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">71</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,068</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,369</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">554</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">34,616</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,460</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company received rental revenue of $1.3 million, $1.2 million, and $0.8 million in the years ended December 31, 2019, 2018, and 2017, respectively, from Pillar and its related parties for properties owned by the Company.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As of December 31, 2019, the Company had notes and interest receivables, net of allowances, of $96.0 million and $7.5 million, respectively, due from UHF, a related party. See Part 2, Item 8. Note 5. &#x201C;Notes and Interest Receivable.&#x201D; During 2019, the Company recognized interest income of $11.0 million, originated $21.4 million, received $18.2 million in principal payments, and received interest payments of $10.4 million from these related party notes receivables.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 61; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->61
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On January 1, 2012, the Company&#x2019;s subsidiary, TCI, entered into a development agreement with UHF, a non-profit corporation that provides management services for the development of residential apartment projects in the future. This development agreement was terminated December 31, 2013. The Company has also invested in surplus cash notes receivables from UHF and has sold several residential apartment properties to UHF in prior years. Due to this ongoing relationship and the significant investment in the performance of the collateral secured under the notes receivable, UHF has been determined to be a related party.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company is the primary guarantor, on a $25.0 million mezzanine loan between UHF and a lender. In addition, ARL, and an officer of the Company are limited recourse guarantors of the loan. As of December 31, 2019, UHF was in compliance with the covenants to the loan agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company is part of a tax sharing and compensating agreement with respect to federal income taxes between ARL, TCI and IOR and their subsidiaries that was entered into in July of 2009. The expense (benefit) in each year was calculated based on the amount of losses absorbed by taxable income multiplied by the maximum statutory tax rate of 21%.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In addition, SPC is part of a management service agreement with the controlling shareholder owned company in which SPC for an annual payment of 0.5% on the value of the investment properties receives from the Advisor office space, administrative and management services. During 2019, SPC paid management fees to Pillar in the amount of $2.2 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties (Pillar) as of December 31, 2019 and 2018:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 70%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b><font style="color: black;"><font style="color: black;">Pillar</font></font></b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 56%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Related party receivable, December 31, 2018</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">70,377</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Cash transfers</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">38,139</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Advisory fees</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(6,612</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Net income fee</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(357</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Cost reimbursements</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(4,265</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Interest income</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">4,686</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Notes receivable purchased</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(28,669</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Fees and commissions</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(71</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Expenses (paid) received by Advisor</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">10,521</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Financing (mortgage payments)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(299</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Sales/purchases Commission</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(318</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black;">Intercompany property transfers</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2,864</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Related party receivable, December 31, 2019</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">85,996</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 10.&nbsp;&nbsp;&nbsp;&nbsp; DEFERRED INCOME</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In previous years, the Company has sold properties to related parties where we have had continuing involvement in the form of management or financial assistance associated with the sale of the properties. Because of the continuing involvement associated with the sale, the sales criteria for the full accrual method is not met, and as such the Company has deferred some or all of the gain recognition and accounted for the sale by applying the finance, deposit, installment or cost recovery methods, as appropriate, until the sales criteria is met. The gains on these transactions have been deferred until the properties are sold to a non-related third party. As of December 31, 2019, we had deferred gain of $24.8 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 62; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->62
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 11.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>DIVIDENDS</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL&#x2019;s Board of Directors established a policy that dividend declarations on common stock would be determined on an annual basis following the end of each year. In accordance with that policy, no dividends on ARL&#x2019;s common stock were declared for fiscal years ended 2019, 2018, or 2017. Future distributions to common stockholders will be determined by the Board of Directors in light of conditions then existing, including the Company&#x2019;s financial condition and requirements, future prospects, restrictions in financing agreements, business conditions and other factors deemed relevant by the Board. On January 12, 2018 Realty Advisors converted 200,000 preferred Series A shares plus accrued dividends into 482,716 shares of common stock.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 12.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>PREFERRED STOCK</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under ARL&#x2019;s Amended Articles of Incorporation, 15,000,000 shares of Series A 10.0% Cumulative Convertible Preferred Stock are authorized to be issued with a par value of $2.00 per share with a liquidation preference of $10.00 per share plus accrued and unpaid dividends. Dividends are payable at the annual rate of $1.00 per share, or $.25 per share quarterly, to stockholders of record on the last day of each March, June, September, and December, when and as declared by the Board of Directors. The Series A Preferred Stock may be converted into common stock at 90.0% of the average daily closing price of ARL&#x2019;s common stock for the prior 20 trading days.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On December 31, 2018, a stock transfer agreement was entered into between Realty Advisors, Inc. (&#x201C;RAI&#x201D;) and TCI whereby TCI purchased from RAI 900,000 shares of Series A Preferred Stock for a total purchase price of approximately $9 million.&nbsp; Also, as part of the agreement, TCI acquired accrued unpaid dividends on the 900,000 shares of Series A Preferred Stock of approximately $9.9 million.&nbsp; At December 31, 2018, 1.8 million shares of Series A Convertible Preferred Stock have been eliminated in consolidation.&nbsp; Unpaid accrued dividends in the amount of $9.9 million have also been eliminated in consolidation.&nbsp; After these eliminations, there are 614 shares outstanding of Series A Preferred Stock at December 31, 2019, and 2018.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 13.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>INCOME TAXES</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For financial reporting purposes, income before income taxes were:&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center;" colspan="10">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Years Ended December 31,</font></font></b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2018</font></font></b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2017</font></font></b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: top; text-align: center;" colspan="10">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(In thousands)</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; width: 58%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(Loss) income from continuing operations before income taxes</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,743</p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">183,902</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(8,696</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 63; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->63
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">The (benefit) expense for income taxes consists of:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="10" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Years Ended December 31,</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2019</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2018</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2017</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="text-align: center;" colspan="10" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(In thousands)</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; width: 58%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Current:</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Federal</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">42,231</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(3,044</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">State</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: right;">&#x2014;</td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,210</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">10</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Deferred and Other:</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Federal</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: right;">&#x2014;</td>
            <td style="vertical-align: bottom;"></td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">(42,231</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,044</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">State</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;"></td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">170</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 2.5pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Total tax expense</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&#x2014;</b></font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>1,210</b></font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>180</b></font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">The reconciliation between the Company&#x2019;s effective tax rate on income from continuing operations and the statutory rate is as follows:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: bottom;">
            <td style="padding-bottom: 1pt; padding-left: 0.25in; text-align: center; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold;" colspan="10">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Years Ended December 31,</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="vertical-align: bottom;">
            <td style="padding-bottom: 1pt; padding-left: 0.25in; text-align: center; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; font-weight: bold;" colspan="2">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2019</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; font-weight: bold;" colspan="2">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2018</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right; font-weight: bold;" colspan="2">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">2017</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: center; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="vertical-align: bottom;">
            <td style="padding-left: 0.25in; text-align: center; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: center;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: center;" colspan="10">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(In thousands)</font>
            </td>
            <td style="text-align: center;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-left: 0.125in; width: 58%; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Income tax (benefit) expense at federal statutory rate</font>
            </td>
            <td style="width: 2%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 10%; text-align: right;">(4,566</td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)&nbsp;</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 10%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">31,739</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="width: 10%; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(3,044</font>
            </td>
            <td style="width: 1%; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-left: 0.125in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">State and local income taxes net of federal tax (benefit) expense</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,210</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">180</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-left: 0.125in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Permanent tax differences</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;(2,499</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(224</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-left: 0.125in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Temporary tax differences</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Installment note on land sale</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&#x2014;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(2,875</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1,918</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Allowance for losses on note receivables</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;(246</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(712</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(2,372</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Deferred gains</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;(1,920</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(7,041</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(10,758</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Basis differences on fixed assets</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;&nbsp;&#x2014;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">22,110</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">9,284</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other basis/timing differences</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;3,172</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(766</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td>
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">5,764</font>
            </td>
            <td style="text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-bottom: 1pt; padding-left: 0.125in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Generation (use) on net operating loss carryforwards</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">6,059</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(42,231</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
            </td>
            <td style="padding-bottom: 1pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: right;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,044</font>
            </td>
            <td style="padding-bottom: 1pt; text-align: left;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: #cceeff; vertical-align: bottom;">
            <td style="padding-bottom: 2.5pt; padding-left: 0.125in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Reported Income Tax Expense</font>
            </td>
            <td style="padding-bottom: 2.5pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: right; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
            </td>
            <td style="padding-bottom: 2.5pt; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 2.5pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: right; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,210</font>
            </td>
            <td style="padding-bottom: 2.5pt; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding-bottom: 2.5pt; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; text-align: right; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">180</font>
            </td>
            <td style="padding-bottom: 2.5pt; text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
        <tr style="background-color: white; vertical-align: bottom;">
            <td style="padding-left: 0.125in; text-align: left; text-indent: -0.125in;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Effective Tax Rate</font>
            </td>
            <td style="font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.0</font>
            </td>
            <td style="text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
            </td>
            <td style="font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.7</font>
            </td>
            <td style="text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
            </td>
            <td style="font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="text-align: right; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>N/A</b></font>
            </td>
            <td style="text-align: left; font-weight: bold;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The company is subject to taxation in the United States and various states and foreign jurisdictions. As of December 31, 2019, the Company&#x2019;s tax years for 2018, 2017, and 2016 are subject to examination by the tax authorities. With few exceptions, as of December 31, 2019, the Company is no longer subject to U.S federal, state, local, or foreign examinations by tax authorities for the years before 2016.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The 2019 and 2018 effective tax rate is driven primarily by the passing of the Tax Cuts and Jobs Act by congress. This act has reduced the statutory tax rate for corporations from 35% to 21% starting in 2018. As a result, the tax assets of ARI had to be re-priced to reflect the new rate for future years with the impact on the 2017 provision for income taxes.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Components of the Net Deferred Tax Asset or Liability</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 90%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="6" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Years Ended December 31,</font></font></b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; width: 1%; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2018</font></font></b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;" colspan="6">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(In thousands)</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 72%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Deferred Tax Assets:</font></font></b></p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Allowance for losses on notes</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,751</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">2,879</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Deferred Gain</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,200</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,999</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Foreign currency translations&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,521</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net Operating Loss Carryforward</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">18,371</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">8,700</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Total Deferred Tax Assets</font></font></b></p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">27,843</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">15,578</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Less: valuation allowance</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(21,180</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(12,246</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Total Net Deferred Tax Assets</font></font></b></p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,663</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,332</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Deferred Tax Liabilities:</font></font></b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Deferred gain</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Basis differences for fixed assets</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,663</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(3,332</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Total Deferred Tax Liability</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,663</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(3,332</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Current Net Deferred Tax Asset</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,663</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">3,332</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Long-Term Net Deferred Tax Liability</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,663</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(3,332</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">Net deferred tax asset (liability)</font></font></b></p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt; width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 64; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->64
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Operating Loss and Tax Credit Carryforwards</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">We have federal income tax net operating losses (NOLs) carryforwards related to our domestic operations of approximately $53 million on a standalone basis, which have an indefinite life. We also have state NOLs in many of the various states in which we operate.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Valuation Allowance Reversal</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. At December 31, 2019, 2018 and 2017 ARL had a net deferred tax asset due to tax deductions available to it in future years. However, as management could not determine that it was more likely than not that ARL would realize the benefit of the deferred tax asset, a valuation allowance was established.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 14.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL&#x2019;s operations include the leasing of commercial properties (office buildings, industrial warehouses and retail centers). The leases, thereon, expire at various dates through 2029. The following is a schedule of minimum future rents due to ARL under non-cancelable operating leases as of December 31, 2019 (dollars in thousands):</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 40%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Year</b></p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Amount</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 26%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">2020</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">26,208</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">2021</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">23,558</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">2022</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">20,382</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">2023</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">14,882</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">2024</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">8,861</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Thereafter</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">7,109</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.25in; font: 10pt Times New Roman, Times, Serif;">Total</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>101,000</b></p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 15.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>OPERATING SEGMENTS</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our segments are based on management&#x2019;s method of internal reporting which classifies its operations by property type. The segments are commercial, apartments, land and other. Significant differences among the accounting policies of the operating segments as compared to the Consolidated Financial Statements principally involve the calculation and allocation of administrative and other expenses. Management evaluates the performance of each of the operating segments and allocates resources to them based on their operating income and cash flow.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Items of income that are not reflected in the segments are interest, other income, equity in partnerships and gains on sale of real estate. Expenses that are not reflected in the segments are provision for losses, advisory, net income and incentive fees, general and administrative, non-controlling interests and net loss from discontinued operations before gains on sale of real estate.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The segment labeled as &#x201C;Other&#x201D; consists of revenue and operating expenses related to the notes receivable and corporate debt.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Presented below is the Company&#x2019;s reportable segments&#x2019; operating income including segment assets and expenditures for the years 2019, 2018 and 2017 (dollars in thousands):</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>For the Twelve Months Ended December 31, 2019</b></p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Commercial <br> Properties</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Apartments</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Land</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Other</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Total</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 35%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Rental and other property revenues</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">32,707</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,257</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">47,970</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Property operating expenses</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,805</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,375</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(735</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(779</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(25,694</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Depreciation</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(10,229</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,150</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(13,379</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Mortgage and loan interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(7,018</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(4,069</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,301</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(27,472</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(39,860</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Loss on debt extinguishment</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,219</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,219</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Interest income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,955</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,955</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Loss on the sale of income producing property</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(80</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(80</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,272</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,272</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Segment operating (loss) income</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,564</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(417</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,236</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,290</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,965</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Capital expenditures</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,257</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,001</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,489</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">33,747</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Real estate assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">229,424</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">178,536</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">70,003</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">477,963</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Property Sales</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Sales price</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,096</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">30,012</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">33,108</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Cost of sale</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,176</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(14,740</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(17,916</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on sale</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(80</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,272</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,192</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>For the Twelve Months Ended December 31, 2018</b></p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Commercial <br> Properties</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Apartments</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Land</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Other</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Total</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 35%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating revenue</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">33,113</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">87,832</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">120,956</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating expenses</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(16,252</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(42,134</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(645</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(556</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(59,587</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Depreciation and amortization</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,530</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(13,140</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(22,670</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Mortgage and loan interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(7,663</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(20,671</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(636</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(37,093</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(66,063</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Interest income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">21,645</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">21,645</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,404</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,404</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Segment operating income (loss)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(332</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,887</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,124</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,994</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,685</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Capital expenditures</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">8,246</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,953</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">25,199</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">153,014</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">143,500</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">84,529</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">381,043</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Property Sales</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Sales price</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,313</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">8,512</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">43,311</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">54,136</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Cost of sale</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,313</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,512</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(25,907</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(36,732</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,404</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17,404</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;"><b>For the Twelve Months Ended December 31, 2017</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Commercial <br> Properties</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Apartments</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Land</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Other</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Total</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 35%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating revenue</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">33,286</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">92,807</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">111</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">17</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">126,221</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating expenses</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(18,549</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(43,677</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(878</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(987</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(64,091</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Depreciation and amortization</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,358</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(16,354</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">33</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(25,679</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Mortgage and loan interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(7,527</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(22,347</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,945</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(34,352</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(66,171</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Interest income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">18,941</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">18,941</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on sale of income producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,391</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,760</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,547</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,698</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,884</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,884</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Segment operating income (loss)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">243</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">23,189</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,719</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(16,348</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">10,803</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Capital expenditures</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,817</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,402</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">609</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,806</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Assets</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">137,157</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">727,508</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">123,452</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">988,117</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Property Sales</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Sales price</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,050</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">29,969</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">35,019</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Cost of sale</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,659</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(23,538</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(26,197</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Recognized prior deferred gain</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,760</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,760</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on sale</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,391</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,760</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,431</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">21,582</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 66; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->66
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">The table below reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.25in; text-align: left; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" colspan="10" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>For the Years Ended December 31,</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.25in; text-align: left; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;" colspan="2" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2019</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2018</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>2017</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; width: 61%; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Segment operating income</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">4,965</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">11,685</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">10,803</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other non-segment items of income (expense)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">General and administrative</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(13,336</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(12,708</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(7,691</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Net income fee to related party</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(357</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(631</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(250</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Advisory fee to related party</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(6,612</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(11,475</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(11,082</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Other income</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">11,018</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">28,993</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">4,082</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Gain on disposition of 50% interest in VAA</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">154,126</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Foreign currency translation (loss) gain</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(15,108</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">12,399</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(4,536</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Loss from joint venture</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(2,774</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">44</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Loss on sale of investments</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(331</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Earnings from unconsolidated investees</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">461</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">1,469</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">309</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="padding-left: 0.25in; text-align: left; text-indent: -0.125in;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Income tax expense</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&#x2014;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1,210</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(180</font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding-bottom: 2.5pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Net (loss) income from continuing operations</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(21,743</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">182,692</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(8,876</font>
                </p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">)</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The table below reflects the reconciliation of the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="10" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>As of December 31,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="2" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2017</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 61%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Segment assets</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">387,790</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">381,043</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">988,117</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Investments in unconsolidated investees</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">67,655</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">76,001</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,396</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Notes and interest receivable</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">156,200</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">126,058</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">112,095</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Other assets</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">218,996</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">243,047</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">190,112</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total assets</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">830,641</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">826,149</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,296,720</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 67; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->67
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 16.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>QUARTERLY RESULTS OF OPERATIONS</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following is a tabulation of quarterly results of operations for the years 2019, 2018 and 2017. Quarterly results presented differ from those previously reported in ARL&#x2019;s Form 10-Q due to the reclassification of the operations of properties sold or held for sale to discontinued operations in accordance with ASC topic 360:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="14" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Three Months Ended 2019</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="2" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>March 31,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>June 30,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>September 30,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>December 31,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;" colspan="14" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands, except share and per share amounts) </b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 52%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total operating revenues</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,929</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,840</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,943</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,258</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total operating expenses</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,664</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">16,217</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,809</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,688</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating loss</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,735</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(4,377</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,866</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,430</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Other expense</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,963</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,927</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(12,723</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,914</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(Loss)&nbsp; before gain on sales, non-contolling interest, and taxes</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(8,698</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,304</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(14,589</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(7,344</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Loss on sale of income producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(80</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,216</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,517</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,139</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,400</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net loss from continued operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,482</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,867</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,450</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,944</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net loss</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,482</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,867</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,450</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,944</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Less: net (income) attributable to non-controlling interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">335</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,089</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,879</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,482</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,147</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,778</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(7,571</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">538</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>PER SHARE DATA</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - basic</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income (loss) from continued operations</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.41</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.24</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.59</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.12</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net income (loss) applicable to common shares</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.38</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.17</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.47</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.03</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - diluted</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income (loss) from continued operations</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.41</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.24</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.59</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.12</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net income (loss) applicable to common shares</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.38</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.17</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.47</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.03</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing diluted earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="14" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Three Months Ended 2018</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="2" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>March 31,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>June 30,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>September 30,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>December 31,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;" colspan="14" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands, except share and per share amounts) </b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 52%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 9%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total operating revenues</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">31,083</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">31,607</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">33,409</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">24,857</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total operating expenses</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">26,165</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">27,990</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">28,199</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">24,717</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,918</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,617</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,210</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">140</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Other (expense) income</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,638</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,678</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,955</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,508</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(Loss) income&nbsp; before gain on sales, non-contolling interest, and taxes</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,720</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,295</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">11,165</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,368</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on formation of joint venture</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">154,126</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on land sales</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,335</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,243</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,826</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income tax expense</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(792</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(418</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continued operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(385</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,295</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">22,616</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">154,166</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net (loss) income</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(385</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">6,295</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">22,616</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">154,166</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Less: net (income) attributable to non-controlling interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(275</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(441</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(2,265</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,012</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Preferred dividend requirement</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(225</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(225</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(225</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(226</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(885</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,629</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">20,126</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">147,928</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>PER SHARE DATA</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - basic</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(Loss) income from continued operations</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.06</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.35</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1.26</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9.26</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.06</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.35</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1.26</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9.26</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,938,077</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - diluted</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income (loss) from continued operations</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.06</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.35</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1.26</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9.27</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net income (loss) applicable to common shares</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.06</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.35</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1.26</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9.27</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing diluted earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,938,077</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,997,076</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="14" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Three Months Ended 2017</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; text-align: center;" colspan="2" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>March 31,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>June 30,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>September 30,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>December 31,</b></p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: center;" colspan="14" valign="top">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands, except share and per share amounts) </b></p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 48%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total operating revenues</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">31,822</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">31,587</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">31,807</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">31,005</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total operating expenses</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">27,345</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">26,759</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">26,397</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">28,292</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Operating income</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,477</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">4,828</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">5,410</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">2,713</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Other expense</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(10,829</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(15,676</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,348</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,853</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Loss before gain on sales, non-contolling interest, and taxes</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(6,352</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(10,848</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(3,938</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(9,140</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain on sale of income producing properties</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">12,760</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,938</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Gain (loss) on land sales</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">445</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(476</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,062</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">3,853</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Income tax expense</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(180</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income from continued operations</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,907</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,324</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9,884</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,529</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Net income (loss)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,907</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,324</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9,884</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,529</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Less: net (income) loss attributable to non-controlling interest</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">193</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">435</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(522</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">339</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Preferred dividend requirement</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(275</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(275</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(275</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(280</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(5,989</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(11,164</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">9,087</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,470</p>
            </td>
            <td style="padding-bottom: 2pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>PER SHARE DATA</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - basic</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(Loss) income from continued operations</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.39</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.72</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.59</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.09</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.39</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.72</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.59</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.09</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>Earnings per share - diluted</b></p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 1pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(Loss) income from continued operations</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.39</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.72</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.59</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 1pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.09</p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 2.5pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Net (loss) income applicable to common shares</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.39</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.72</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">0.59</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding-bottom: 2.5pt;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(0.09</p>
            </td>
            <td style="padding-bottom: 2.5pt; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Weighted average common shares used in computing diluted earnings per share</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">15,514,360</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 17.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>COMMITMENTS, CONTINGENCIES, AND LIQUIDITY</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Liquidity.</b></i>
        </b>&nbsp;&nbsp;&nbsp;&nbsp;Management believes that TCI will generate excess cash from property operations in 2020; such excess, however, might not be sufficient to discharge all of TCI&#x2019;s obligations as they become due. Management intends to sell income-producing assets, refinance real estate and obtain additional borrowings primarily secured by real estate to meet its liquidity requirements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Guarantees</b></i>
        </b><i>.&nbsp;</i>The Company is the primary guarantor, on a $25.0 million mezzanine loan between UHF and a lender. In addition, ARL, and an officer of the Company are limited recourse guarantors of the loan. As of December 31, 2019 UHF was in compliance with the covenants to the loan agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Partnership Buyouts</b></i>.</b>&nbsp;&nbsp;&nbsp;&nbsp;TCI is the limited partner in various partnerships related the construction of residential properties. As permitted in the respective partnership agreements, TCI intends to purchase the interests of the general and any other limited partners in these partnerships subsequent to the completion of these projects. The amounts paid to buy out the nonaffiliated partners are limited to development fees earned by the non-affiliated partners, and are set forth in the respective partnership agreements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>ART and ART Midwest, Inc.</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">A formerly owned entity (American Realty Trust, Inc.) and its former subsidiary (ART Midwest, Inc.) have been parties&nbsp; to a litigation with Mr. David Clapper and entities related to Mr. Clapper (collectively, the &#x201C;Clapper Parties&#x201D;). The matter originally involved a transaction in 1998 in which ART Midwest, Inc. was to acquire eight residential apartment complexes from the Clapper Parties. Through the years, a number of rulings, both for and against American Realty Trust, Inc. &#x201C;ART&#x201D; and ART Midwest, Inc., were issued. In October 2011, a ruling was issued under which the Clapper Parties received a judgment for approximately $74 million, including $26 million in actual damages and $48 million interest. The ruling was against ART and ART Midwest, Inc., but no other entity. During February 2014, the Court of Appeals affirmed a portion of the judgment in favor of the Clapper Parties, but also ruled that a double counting of a significant portion of the damages had occurred and remanded the case back to the trial court to recalculate the damage award, as well as pre- and post-judgment interest thereon. Subsequently, the trial court recalculated the damage award, reducing it to approximately $59 million, inclusive of actual damages and then current interest. ART was also a significant owner of a partnership interest in the partnership that was awarded the initial damages in this matter.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Clapper Parties subsequently filed a new lawsuit against ARI, its subsidiary EQK Holdings, Inc. &#x201C;EQK&#x201D;, and ART. The Clapper Parties seek damages from ARL for payment by ART to ARL of ART&#x2019;s stock in EQK in exchange for a release of the Antecedent Debt owed by ART to ARI. In February 2018 the court determined that this legal matter should not have been filed in federal court and therefore granted motions to dismiss on jurisdictional grounds. In June 2018, the court overruled its own grant of motions to dismiss and reinstated the case. We continue to vigorously defend the case and management believes it has defenses to the claims. The case has not been set for trial.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;In 2005, ART filed suit against a major national law firm over the initial transaction. That action was initially abated while the principal case with the Clapper Parties was pending, but the abatement was recently lifted. The trial court subsequently dismissed the case on procedural grounds, but ART has filed a notice of appeal. The appeal was heard in February 2018 and the case was subsequently appealed to the Texas Supreme Court. The application for Review is still pending with the Texas Supreme Court.&nbsp; In January 2012, the Company sold all of the issued and outstanding stock of ART to an unrelated party for a promissory note in the amount of $10 million. At December 31, 2012, the Company fully reserved and valued such note at zero.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Dynex Capital, Inc.</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">On July 20, 2015, the 68<sup>th</sup>&nbsp;Judicial District Court in Dallas County, Texas issued its Final Judgment in Cause No. DC-03-00675, styled Basic Capital Management, Inc., American Realty Trust, Inc., Transcontinental Realty Investors, Inc., Continental Poydras Corp., Continental Common, Inc. and Continental Baronne, Inc. v. Dynex Commercial, Inc. The case, which was litigated for more than a decade, had its origin with Dynex Commercial making loans to Continental Poydras Corp., Continental Common, Inc. and Continental Baronne, Inc. (subsidiaries of Continental Mortgage &#38; Equity Trust (&#x201C;CMET&#x201D;), an entity which merged into TCI in 1999 after the original suit was filed). Under the original loan commitment, $160 million in loans were to be made to the entities. The loans were conditioned on the execution of a commitment between Dynex Commercial and Basic Capital Management, Inc. (&#x201C;Basic&#x201D;).</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">An original trial in 2004, which also included Dynex Capital, Inc. as a defendant, resulted in a jury awarding damages in favor of Basic for &#x201C;lost opportunity,&#x201D; as well as damages in favor of ART and in favor of TCI and its subsidiaries for &#x201C;increased costs&#x201D; and &#x201C;lost opportunity.&#x201D; The original Trial Court judge ignored the jury&#x2019;s findings, however, and entered a &#x201C;Judgment Notwithstanding the Verdict&#x201D; (&#x201C;JNOV&#x201D;) in favor of the Dynex entities (the judge held the Plaintiffs were not entitled to any damages from the Dynex entities). After numerous appeals by all parties, Dynex Capital, Inc. was ultimately dismissed from the case and the remaining claims against Dynex Commercial were remanded to the Trial Court for a new judgment consistent with the jury&#x2019;s findings. The Court entered the new Final Judgment against Dynex Commercial, Inc. on July 20, 2015.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Final Judgment entered against Dynex Commercial, Inc. on July 20, 2015 awarded Basic was $0.256 million in damages, plus pre-judgment interest of $0.192 million for a total amount of $0.448 million. The Judgment awarded ART was $14.2 million in damages, plus pre-judgment interest of $10.6 million for a total amount of $24.8 million. The Judgment awarded TCI was $11.1 million, plus pre-judgment interest of $8.4 million for a total amount of $19.5 million. The Judgment also awarded Basic, ART, and TCI post-judgment interest at the rate of 5% per annum from April 25, 2014 until the date their respective damages were paid. Lastly, the Judgement awarded Basic, ART, and TCI was $1.6 million collectively in attorneys&#x2019; fees from Dynex Commercial, Inc.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">TCI is working with counsel to identify assets and collect on the Final Judgment against Dynex Commercial, Inc., as well as pursue additional claims, if any, against Dynex Capital, Inc. Post judgment interest continues to accrue.&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Berger Litigation</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">On February 4, 2019, an individual claiming to be a stockholder holding 7,900 shares of Common Stock of Income Opportunity Realty Investors, Inc. (&#x201C;IOR&#x201D;) filed a Complaint in the United States District Court for the Northern District of Texas, Dallas Division, individually and allegedly derivatively on behalf of IOR, against Transcontinental Realty Investors, Inc. (&#x201C;TCI&#x201D;), American Realty Investors, Inc. (&#x201C;ARL&#x201D;), (TCI is a shareholder of IOR, ARL is a shareholder of TCI) Pillar Income Asset Management, Inc. (&#x201C;Pillar&#x201D;), ( collectively the &#x201C;Companies&#x201D;), certain officers and directors of the Companies (&#x201C;Additional Parties&#x201D;) and two other individuals. The Complaint filed alleges that the sale and/or exchange of certain tangible and intangible property between the Companies and IOR during the last ten years of business operations constitutes a breach of fiduciary duty by the one or more of Companies, the Additional Defendants and/or the directors of IOR. The case alleges other related claims. The Plaintiff seeks certification as a representative of IOR and all of its shareholders, unspecified damages, a return to IOR of various funds and an award of costs, expenses, disbursements (including Plaintiff&#x2019;s attorneys&#x2019; fees) and prejudgment and post-judgment interest. The named Defendants intend to vigorously defend the action, deny all of the allegations of the Complaint, and believe the allegations to be wholly without any merit. The Defendants have filed motions to dismiss the case in its entirety in June 2019. On February 26, 2020, the Court denied IOR&#x2019;s demand futility motion. The remainder of the motions to dismiss are pending.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b><i><b>Litigation</b></i>
        </b><i>.&nbsp;</i>The ownership of property and provision of services to the public as tenants entails an inherent risk of liability. Although the Company and its subsidiaries are involved in various items of litigation incidental to and in the ordinary course of its business, in the opinion of management, the outcome of such litigation will not have a material adverse impact upon the Company&#x2019;s financial condition, results of operation or liquidity.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 18.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>EARNINGS PER SHARE</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Earnings per share (&#x201C;EPS&#x201D;) has been computed pursuant to the provisions of ASC Topic 260 &#x201C;<i>Earnings Per Share.&#x201D;&nbsp;</i>The computation of basic EPS is calculated by dividing net income available to common shareholders from continuing operations, adjusted for preferred dividends, by the weighted-average number of common shares outstanding during the period. Shares issued during the period shall be weighted for the portion of the period that they were outstanding.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">For the years ended December 31, 2019 and 2018, we had 614 shares issued and 1,800,614 outstanding of Series A 10.0% cumulative convertible preferred stock. These shares may be converted into common stock at 90% of the average daily closing price of the common stock for the prior 20 trading days. These are considered in the computation of diluted earnings per share if the effect of applying the if-converted method is dilutive. On January 12, 2018 Realty Advisors (&#x201C;RAI&#x201D;) converted 200,000 preferred shares, plus accrued dividends into 482,716 shares of common stock. Of the outstanding 1,800,614 shares, 900,000 are held by ARL. Dividends are not paid on the shares owned by ARL.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Prior to July 17, 2014, RAI owned 2,451,435 shares of the outstanding Series A 10.0.0% convertible preferred stock and had accrued dividends unpaid of $15.1 million. On July 17, 2014, RAI converted 890,797 shares, including $6.3 million in accumulated dividends unpaid for these shares, into the requisite number of shares of common stock. This conversion resulted in the issuance of 2,502,230 new shares of ARL common stock. On April 9, 2015, RAI converted 460,638 shares including $2.3 million in accumulated dividends unpaid for these shares, into the requisite number of shares of common stock. This conversion resulted in the issuance of 1,486,741 new shares of ARL common stock. As of December 31, 2018, RAI owns 900,000 shares of the outstanding Series A convertible preferred stock and has accrued unpaid dividends of approximately $9.9 million.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company had 135,000 shares of Series K convertible preferred stock, which were held by TCI and used as collateral on a note. The note has been paid in full and the Series K preferred stock was cancelled May 7, 2014.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Prior to January 1, 2015, the Company had 1,000 shares of stock options outstanding. These options expired unexercised January 1, 2015. The options are no longer included in the dilutive earnings per share calculation for the current period, but are considered in the computation for the prior periods if applying the &#x201C;treasury stock&#x201D; method is dilutive.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As of December 31, 2019 and 2018, the Series A convertible preferred stock and the stock options were anti-dilutive and therefore not included in the EPS calculation.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>NOTE 19.</b>&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>SUBSEQUENT EVENTS</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">On February 2, 2020, S&amp;P Global Ratings announced the increase
of the Company's issuer rating to 'ilA-' from 'ilBBB+' for Bonds (Series A and B). In addition, Series C bond rating (secured by
one of SPC&rsquo;s commercial properties) increase to 'ilA' from 'ilA-' rating due to the expectation of continued improvement
in coverage ratios and the expansion of Company&rsquo;s portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">During 2020, a strain of coronavirus (&#x201C;COVID &#x2013; 19&#x201D;) was reported worldwide, resulting in decreased economic activity and concerns about the pandemic, which would adversely affect the broader global economy. The Company is taking all necessary steps to keep our business premises, tenants, vendors and employees in a safe environment and are constantly monitoring the impact of COVID &#x2013; 19.&nbsp; At this point, the extent to which COVID &#x2013; 19 may impact the global economy and our business is uncertain, but pandemics or other significant public health events could have a material adverse effect on our business and results of operations</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The date to which events occurring after December 31, 2019, the date of the most recent balance sheet, have been evaluated for possible adjustments to the financial statements or disclosure is March 30, 2020, which is the date of which the financial statements were available to be issued. There are no subsequent events that would require an adjustment to the financial statements.</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>Schedule III</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10kb008"></a>TRANSCONTINENTAL REALTY INVESTORS, INC.&nbsp;</b></p>
    <p style="margin: 0pt 0; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>REAL ESTATE AND ACCUMULATED DEPRECIATION</b></p>
    <p style="margin: 0pt 0; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>December 31, 2019</b></p>
    <p style="margin: 0pt 0; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="height: 625px; margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="height: 32px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: top;" colspan="2">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="5">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Initial Cost</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Cost Capitalized Subsequent to Acquisition</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Asset Impairment</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="8">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Gross Amount of Which Carried at End of Year</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top;" colspan="2">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 53px;">
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; text-align: center;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Property/Location</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Encumbrances</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Land</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Buildings</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Improvements</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Asset Impairment</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Land</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Building &#38; </b></font>
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">
                        <br>
                        <font style="color: black;"><b>Improvements</b></font>
                    </font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Total</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Accumulated</b></font>
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">
                        <br>
                        <font style="color: black;"><b>Depreciation</b></font>
                    </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Date of</b></font>
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">
                        <br>
                        <font style="color: black;"><b>Construction</b></font>
                    </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Date </b></font>
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">
                        <br>
                        <font style="color: black;"><b>Acquired</b></font>
                    </font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt; text-align: center; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Life on Which Depreciation<br> In Latest Statement of Operation is Computed</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Properties Held for Investment Apartments</b></font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Legacy at Pleasant Grove, Texarkana, TX</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">13,944</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,005</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">17,892</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">217</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,005</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">18,109</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">20,114</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">$</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,289</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2006</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">12/14</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Toulon, Gautier, MS</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">19,575</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,621</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">20,107</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">372</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,621</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">20,479</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">22,100</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">4,273</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2011</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">9/09</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Villager, Ft. Walton, FL</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">672</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">141</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,267</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">141</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,267</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,408</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">148</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1972</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">6/15</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Villas at Bon Secour, Gulf Shores, AL</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11,212</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,715</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">15,385</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,715</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">15,385</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">18,100</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">545</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2007</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7/18</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Vista Ridge, Tupelo, MS</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10,252</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,339</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">13,398</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,339</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">13,398</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">14,737</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,893</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2009</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10/15</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Chelsea, Beaumont, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">8,794</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,225</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11,025</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">160</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,225</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11,185</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">12,410</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">303</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1999</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11/18</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Overlook at Allensville Phase II, Sevierville, TN</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">15,829</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,411</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">17,005</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,411</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">17,005</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">19,416</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">319</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2012</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11/15</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Landing, Houma, LA</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">15,484</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,012</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">18,115</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">25</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,012</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">18,140</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">20,152</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">491</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2005</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">12/18</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Farnham Park, Port Aurther, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">9,183</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,010</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">9,086</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">144</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,010</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">9,230</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10,240</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">251</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1999</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11/18</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Parc at Denham Springs Phase II, Denham Springs, LA</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">15,079</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,502</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">12,486</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3,508</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,502</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">15,994</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">17,496</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">50</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2010</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11/9</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Total Apartments Held for Investment</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>120,024</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>15,981</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>135,766</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>4,426</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&#x2014;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>15,981</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>140,192</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>156,173</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>10,562</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Forest Pines, Bryan, TX</font>
                </p>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5,040</font>
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                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">301</font>
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            </td>
            <td>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5,040</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">301</font>
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            </td>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5,341</font>
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            <td style="vertical-align: bottom; text-align: left;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Sugar Mill III, Addis, LA</font>
                </p>
            </td>
            <td>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">6,302</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">576</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7,023</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">576</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7,023</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7,599</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11/15</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">McKinney Apts at Heritage, McKinney, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,481</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">89</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,481</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">89</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,570</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">6/17</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Forest Pines Phase II (Forest Grove), Bryan, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,560</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">4,674</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">4,674</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">4,674</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">4/19</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">LD Athens Lindsay Ln , Athens, LA</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,155</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,098</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">81</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,098</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">81</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,179</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">9/19</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Total Apartments Under Construction</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>9,017</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>10,195</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&#x2014;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>12,168</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&#x2014;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>10,195</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>12,168</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>22,363</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&#x2014;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Commercial</b></font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">600 Las Colinas, Las Colinas, TX</font>
                </p>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">37,215</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5,751</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">51,759</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">20,143</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5,751</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">71,902</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">77,653</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">32,858</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1984</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">8/05</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt 0pt 0pt 0.125in; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">770 South Post Oak, Houston, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">12,178</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,763</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">15,834</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">697</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,763</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">16,531</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">18,294</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,117</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1970</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7/15</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt 0pt 0pt 0.125in; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Bridgeview Plaza, LaCrosse, WI</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3,908</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,207</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,207</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,207</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">804</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1979</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3/03</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt 0pt 0pt 0.125in; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Browning Place (Park West I), Farmers Branch, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5,096</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">45,868</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">26,645</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5,096</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">72,513</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">77,609</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">29,867</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1984</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">4/05</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Fruitland Plaza, Fruitland Park, FL</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">23</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">83</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">23</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">83</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">106</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">71</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">5/92</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Senlac VHP, Farmers Branch, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">622</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">142</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">622</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">142</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">764</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">142</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">8/05</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Stanford Center, Dallas, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">39,537</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">20,278</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">34,862</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">8,251</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(9,600</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">20,278</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">33,513</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">53,791</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">13,752</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">6/08</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">40 years</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Total Commercial Held for Investment</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>92,838</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>33,533</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>148,323</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>57,168</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>(9,600</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>)</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>33,533</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>195,891</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>229,424</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>79,611</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Land</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Dedeaux, Gulfport, MS</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">202</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">202</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">202</font>
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                </p>
            </td>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7/98</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Lake Shore Villas, Humble, TX</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">81</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">81</font>
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                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">84</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3/02</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Lubbock, Lubbock, TX</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">234</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">234</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">234</font>
                </p>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1/04</font>
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            <td>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Ocean Estates, Gulfport, MS</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,418</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">390</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,418</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">390</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,808</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10/07</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Union Pacific Railroad, Dallas, TX</font>
                </p>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
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                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">130</font>
                </p>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">130</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">130</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3/04</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
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        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Willowick, Pensacola, FL</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">137</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">137</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">137</font>
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            </td>
            <td>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1/95</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Windmill Farms, Kaufman County, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">13,861</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">55,668</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">13,913</font>
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            </td>
            <td>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(20,343</font>
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            <td style="vertical-align: bottom; text-align: left;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">55,668</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(6,430</font>
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            <td style="vertical-align: bottom; text-align: left;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">)</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">49,238</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">11/11</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">T Palm Desert, Riverside, CA</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,800</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,800</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1,800</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">9/19</font>
                </p>
            </td>
            <td>
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            <td style="vertical-align: bottom;">
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                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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            <td style="vertical-align: bottom; text-align: left;">
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Minivest, Dallas, TX</font>
                </p>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7</font>
                </p>
            </td>
            <td>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">7</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">4/13</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Nicholson Croslin, Dallas, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">184</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10/98</font>
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        <tr style="height: 10px;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">80</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(51</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">80</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(51</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">29</font>
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            <td>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10/98</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Mercer Crossing, Farmers Branch, TX</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10,966</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10,966</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">10,966</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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            </td>
            <td style="vertical-align: bottom;">
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1/08</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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            <td style="vertical-align: bottom;">
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">McKinney 36, Collin County, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">945</font>
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            </td>
            <td>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">635</font>
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            <td>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">161</font>
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            </td>
            <td>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(19</font>
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            <td style="vertical-align: bottom; text-align: left;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">635</font>
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            </td>
            <td>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">142</font>
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            <td style="vertical-align: bottom; text-align: left;">
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">777</font>
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            <td>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">1/98</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Travis Ranch, Kaufman County, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">80</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">80</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">80</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">8/08</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">Dominion Mercer Phase II, Farmers Branch, TX</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,440</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">111</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(135</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,440</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">(24</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">)</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">2,416</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">3/99</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Total Land Held for Investment</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>14,806</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>76,843</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&#x2014;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>14,624</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>(21,464</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>)</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>76,843</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>(6,840</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>)</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>70,003</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&#x2014;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
        </tr>
        <tr style="height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 10px;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt 0pt 0pt 0.125in; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>Total Properties Held for Investment</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>236,685</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>136,552</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>284,089</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>88,386</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>(31,064</b></font>
                </p>
            </td>
            <td style="padding-bottom: 1pt; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>)</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>136,552</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>341,411</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>477,963</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>$</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>90,173</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 6pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 6pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 6pt;"><b>&nbsp;</b></font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 72; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->72
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>SCHEDULE III&nbsp;</b></p>
    <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>(Continued)</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>AMERICAN REALTY INVESTORS, INC.&nbsp;</b></p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>REAL ESTATE AND ACCUMULATED DEPRECIATION</b>&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>As of December 31, 2019 </b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2019</b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2018</b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt; width: 17%;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>2017</b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td colspan="10" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>(dollars in thousands)</b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Reconciliation of Real Estate</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Balance at January 1,</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">459,142</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,165,662</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,066,603</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">Additions</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 32px; font: 10pt 'Times New Roman', Times, serif;">Acquisitions, improvements and construction</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">97,554</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">576,232</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">129,483</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">Deductions</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 32px; font: 10pt 'Times New Roman', Times, serif;">Sale of real estate</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(78,733</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,282,752</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(30,424</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Balance at December 31,</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">477,963</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">459,142</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">1,165,662</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Reconciliation of Accumulated Depreciation</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Balance at January 1,</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">78,099</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">177,546</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">165,597</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">Additions</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 32px; font: 10pt 'Times New Roman', Times, serif;">Depreciation</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">13,379</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">22,670</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">24,417</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">Deductions</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 32px; font: 10pt 'Times New Roman', Times, serif;">Sale of real estate</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(1,305</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(122,117</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">(12,468</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">)</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Balance at December 31,</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">90,173</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">78,099</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">177,546</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 73; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->73
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>SCHEDULE IV</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10kb009"></a>AMERICAN REALTY INVESTORS, INC.</b>&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>MORTGAGE LOANS RECEIVABLE</b>
        <br><b>December 31, 2019&nbsp;</b></p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="height: 0px;">
            <td style="border-bottom: Black 1pt solid; padding: 0in; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman , Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Description</b></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0px; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: center; text-indent: 0px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Interest Rate</b></font>
                </p>
            </td>
            <td>&nbsp;</td>
            <td style="border-bottom: black 1pt solid; padding: 0in; vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: center; text-indent: 0px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Final Maturity Date</b></font>
                </p>
            </td>
            <td style="border-bottom-style: none;">
                <p style="margin: 0pt 0px; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0in; vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: center; text-indent: 0px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Periodic Payment Terms</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0in; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0px; text-align: center; text-indent: 0px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Prior Liens</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0px; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0in; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0px; text-align: center; text-indent: 0px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Face Amount of Mortgage</b></font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0px; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0in; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0px; text-align: center; text-indent: 0px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Carrying Amount of Mortgage</b></font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid;">
                <p style="margin: 0pt 0px; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0in; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0px; text-align: center; text-indent: 0px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Principal or Loans Subject to Delinquent Principal or Interest</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0px; text-align: left; text-indent: 0px;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: top;" colspan="20">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>(dollars in thousands)</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; width: 31%; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Prospectus Endeavors 4, LLC</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 6%; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&nbsp;</td>
            <td style="width: 6%; vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jan-23</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 6%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 6%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5,907</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 6%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5,907</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 6%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Prospectus Endeavors 6, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Oct-22</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">496</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">496</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Oulan-Chikh Family Trust</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">8.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Mar-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">174</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">174</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>H198, LLC</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">6.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Sep-20</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">4,554</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">4,554</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">RAI PFBL 2018 Purch Fee Note Weatherford</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">525</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Forest Pines</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Nov-20</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2,868</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Spyglass Apartments of Ennis, LP</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Nov-20</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5,083</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5,288</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Bellwether Ridge</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">May-20</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,429</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,765</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Parc at Windmill Farms</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">May-20</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">6,066</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">7,602</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Echo Station)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">9,719</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2,794</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">1,481</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-left: 0.125in; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">100% Interest in UH of Temple, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Inwood on the Park/UH of Inwood, LLC)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">22,227</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5,462</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,639</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">100% Interest in UH of Inwood, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Kensington Park/UH of Kensington, LLC)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">18,723</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">4,310</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,933</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">100% Interest in UH of Kensington, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">15,965</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2,959</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">100% Interest in HFS of Humble, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (31.5% of cash flow)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">15,756</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">8,836</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">6,369</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">Interest in Unified Housing Foundation Inc.</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (68.5% of cash flow)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">15,965</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2,959</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2,732</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">1,953</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">4,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Timbers of Terrell)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">7,294</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">1,702</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">1,323</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">100% Interest in UH of Terrell, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Trails at White Rock)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">21,712</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,815</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,815</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">100% Interest in UH of Harvest Hill III, LLC</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc (2015 Advisory Fee)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,994</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc (2008-2014 Advisory Fee)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">6,407</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc (2018 Advisory Fee)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jun-20</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">5,314</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
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            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Mar-22</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">4,782</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
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        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">RAI UHF 2019 Advisory Fee Note</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jul-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
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            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">838</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2018 Refin Fee (Lakeshore Villas)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jul-21</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">773</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2018 Refin Fee (Limestone Ranch)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jul-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">839</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2018 Refin Fee (Marquis @ Vista Ridge)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jul-21</font>
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            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">432</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2018 Refin Fee (Timbers at the Park)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jul-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">913</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2018 Refin Fee (Trails @ White Rock)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
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            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Aug-21</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">212</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2018 Refin Fee (Bella Vista)</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">&nbsp;</td>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Oct-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">1,980</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
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        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2017 Fees on Sale LSC/SR/PKCR</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
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        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Oct-21</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">4,851</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
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        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2017 Fees on Profit LSC/SR/PKCR</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Walnut Park Crossing)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">340</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">369</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Unified Housing Foundation, Inc. (Terraces of Marine Creek/Blue Lake at Marine Creek)</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">12.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-32</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">140</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">128</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Realty Advisors Management, Inc.</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">2.28%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Dec-22</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Interest only paid quarterly.</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">20,387</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">20,387</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>One Realco Corporation <sup>(1)</sup></b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3.00%</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Jan-20</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">10,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">7,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Various related party notes</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Various</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Various</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">3,553</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;"><b>Various non-related party notes</b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Various</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Various</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">Excess cash flow</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">28,989</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&#x2014;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">156,185</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;" colspan="6">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font: 8pt Times New Roman, Times, Serif;">Accrued interest</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">13,114</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff; height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;" colspan="6">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font: 8pt Times New Roman, Times, Serif;">Allowance for estimated losses</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">(13,099</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">)</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="height: 0px;">
            <td style="padding: 0in; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">&nbsp;</td>
            <td style="vertical-align: bottom; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">$</font>
                </p>
            </td>
            <td style="border-bottom: Black 2.5pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">156,200</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 8pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
    <p style="margin: 0; font: 10pt Times New Roman, Times, Serif;">(1) Fully reserved<b>&nbsp;</b></p>
    <!-- Field: Page; Sequence: 74; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->74
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;"><b>SCHEDULE IV</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>AMERICAN REALTY INVESTORS, INC.</b></p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>MORTGAGE LOANS</b></p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>As of December 31,</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2019</font></font></b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt; width: 13%;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2018</font></font></b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt; width: 13%;" colspan="2" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">2017</font></font></b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td colspan="10" valign="top">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><font style="color: black;"><font style="color: black;">(dollars in thousands)</font></font></b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Balance at January 1,</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">126,058</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">127,865</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">143,601</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Additions</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black;">New mortgage loans</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">49,671</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">13,123</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">15,741</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black;">Increase (decrease) of interest receivable on mortgage loans</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">12,429</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(6,388</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">581</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Deductions</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black;">Amounts received</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(30,245</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(8,541</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 10%;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(32,058</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 16px; font: 10pt 'Times New Roman', Times, serif;">
                    <font style="color: black;">Non-cash reductions</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">(1,713</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">)</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">&#x2014;</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 58%;" valign="top">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">Balance at December 31,</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">156,200</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">126,058</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">$</font>
                </p>
            </td>
            <td style="border-bottom: 2pt double black;" valign="bottom">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black;">127,865</font>
                </p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>ITEM&nbsp;9.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><i><b><a name="arl10ka014"></a>CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">None.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>ITEM&nbsp;9A.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><i><b><a name="arl10ka015"></a>CONTROLS AND PROCEDURES</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Evaluation of Disclosure Controls and Procedures</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under the supervision and with the participation of our management, including our Principal Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e)) of the Securities Exchange Act of 1934, as amended (the &#x201C;Exchange Act&#x201D;), which are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the SEC&#x2019;s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Based on this evaluation, our Principal Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Management&#x2019;s Report on Internal Control over Financial Reporting</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with generally accepted accounting principles. There are inherent limitations to the effectiveness of any system of internal control over financial reporting. These limitations include the possibility of human error, the circumvention of overriding of the system and reasonable resource constraints. Because of its inherent limitations, our internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with policies or procedures may deteriorate.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Management assessed the effectiveness of the Company&#x2019;s internal control over financial reporting as of December 31, 2019. In making this assessment, management used the criteria set forth in&nbsp;<i>Internal Control&#x2014;Integrated Framework</i>&nbsp;issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013). Based on management&#x2019;s assessments and those criteria, management has concluded that Company&#x2019;s internal control over financial reporting was effective as of December 31, 2019.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">This annual report does not include an attestation report of the Company&#x2019;s registered public accounting firm regarding internal control over financial report. Management&#x2019;s report was not subject to attestation by the Company&#x2019;s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management&#x2019;s report in this annual report.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Changes in Internal Control over Financial Reporting</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In preparation for management&#x2019;s report on internal control over financial reporting, we documented and tested the design and operating effectiveness of our internal control over financial reporting. There were no changes in our internal controls over financial reporting (as such term is defined in Exchange Act Rule 13a-15(f)) that occurred during the quarter ended December 31, 2019 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka016"></a>Item 9B.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>OTHER INFORMATION</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Not applicable.</b></p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka017"></a>PART III</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka018"></a>ITEM 10.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><i><b>DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Directors</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The affairs of ARL are managed by a Board of Directors. The Directors are elected at the annual meeting of stockholders or are appointed by the incumbent Board and serve until the next annual meeting of stockholders or until a successor has been elected or appointed.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">It is the Board&#x2019;s objective that a majority of the Board consists of independent directors. For a Director to be considered independent, the Board must determine that the Director does not have any direct or indirect material relationship with ARL. The Board has established guidelines to assist it in determining director independence which conform to, or are more exacting than, the independence requirements in the New York Stock Exchange listing rules. The independence guidelines are set forth in ARL&#x2019;s &#x201C;Corporate Governance Guidelines&#x201D;. The text of this document has been posted on ARL&#x2019;s Internet website at (<u>www.americanrealtyinvest.com</u>)&nbsp;and is available in print to any shareholder who requests it. In addition to applying these guidelines, the Board will consider all relevant facts and circumstances in making an independence determination.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL has adopted a code of conduct that applies to all Directors, officers and employees, including our principal executive officer, principal financial officer, and principal accounting officer. Stockholders may find our code of conduct on our website by going to our website address at (<u>www.americanrealtyinvest.com</u>). We will post any amendments to the code of conduct, as well as any waivers that are required to be disclosed by the rules of the SEC or the New York Stock Exchange, on our website.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Our Board of Directors has adopted charters for our Audit, Compensation, and Governance and Nominating Committees of the Board of Directors. Stockholders may find these documents on our website by going to the website address at (<u>www.americanrealtyinvest.com</u>). You may also obtain a printed copy of the materials referred to by contacting us at the following address:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">American Realty Investors, Inc.&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">Attn: Investor Relations&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">1603 LBJ Freeway, Suite 800&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">Dallas, Texas 75234&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">Telephone: 469-522-4200</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">All members of the Audit Committee and the Governance and Nominating Committee must be independent directors. Members of the Audit Committee must also satisfy additional independence requirements, which provide (i)&nbsp;that they may not accept, directly or indirectly, any consulting, advisory, or compensatory fee from ARL or any of its subsidiaries other than their Director&#x2019;s compensation (other than in their capacity as a member of the Audit Committee, the Board of Directors, or any other committee of the Board), and (ii)&nbsp;no member of the Audit Committee may be an &#x201C;affiliated person&#x201D; of ARL or any of its subsidiaries, as defined by the Securities and Exchange Commission.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The current Directors of ARL are listed below, together with their ages, terms of service, all positions and offices with ARL and its advisor Pillar, their principal occupations, business experience, and directorships with other companies during the last five years or more. The designation &#x201C;affiliated&#x201D;, when used below with respect to a Director, means that the Director is an officer, director, or employee of Pillar, an officer of the Company, or an officer or director of a related party of the Company. The designation &#x201C;independent,&#x201D; when used below with respect to a Director, means that the Director is neither an officer of the Company nor a director, officer, or employee of Pillar (but may be a director of the Company), although the Company may have certain business or professional relationships with such Director as discussed in Part III, Item&nbsp;13. &#x201C;Certain Relationships and Related Transactions and Director Independence&#x201D;.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>HENRY A. BUTLER,&nbsp;</b>age 69, Director, Affiliated, since July 2003 and Chairman of the Board since May 2009</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Retired (since April 30, 2019); Mr. Butler served as Vice President Land Sales for Pillar Income Asset Management, LLC since April 2011 to April 30, 2019).&nbsp; Mr. Butler has been a Director of the Company since July 2003 and Chairman of the Board since May 2009. He has also served as Chairman of the Board since May 2011 and as a Director since February 2011 of&nbsp;IOR and Chairman of the Board since May 2009 and a Director since November 2005 of TCI.</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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        <p style="margin: 0pt">&nbsp;</p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;"><B>WILLIAM J. HOGAN,&nbsp;</B>age
62, Director, Independent, since February 2020</p>
    <p style="margin-bottom: .0001pt; line-height: normal; text-align: justify;">
        <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Registered Representative and Investment Advisor Representative, employed (since January 2013) by Cetera Advisor Networks LLC, a general securities and investment advisory firm, with an office in San Antonio, Texas. From November 2009 through December 2012, Mr. Hogan was a registered representative, employed by Financial Network Investment Corp. in San Antonio, Texas. He holds Series 7 (General Securities Representative), Series 63 (Uniform Securities Agent State Law) and Series 65 (Investment Advisor) licenses issued by Financial Industry Regulatory Authority (&#x201C;FINRA&#x201D;). Mr. Hogan was elected as a director of the Company and TCI on January
28, 2020 effective February 1, 2020.</font></p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>ROBERT A. JAKUSZEWSKI,&nbsp;</b>age 57, Director, Independent, since November 2005</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Mr. Jakuszewski is currently has served as a Territory Manager for Artesa Labs since April 2015. He was a Medical Specialist from January 2014 to April 2015 for VAYA Pharma, Inc., Senior Medical Liaison from January 2013 to July 2013 for Vein Clinics of America, and the Vice President of Sales and Marketing from September 1998 to December 2012 for New Horizons Communications, Inc. Mr.&nbsp;Jakuszewski has been a Director of the Company since November 2005. He has also been a Director of&nbsp;IOR since March 2004 and a Director of TCI since November 2005.&nbsp;&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>TED R. MUNSELLE,&nbsp;</b>age 64, Director, Independent, since February 2004</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Mr.&nbsp;Munselle has been Vice President and Chief Financial Officer of Landmark Nurseries, Inc. since October 1998. On February 17, 2012, he was appointed as a member of the Board of Directors for Spindletop Oil &#38; Gas Company and as Chairman of their Audit Committee. Spindletop&#x2019;s stock is traded on the Over-the-Counter (OTC) market. Mr.&nbsp;Munselle has been a Director of the Company since February 2004. He has also served as Director of IOR since May 2009&nbsp;and Director of TCI since February 2004. Mr.&nbsp;Munselle is qualified as an Audit Committee financial expert within the meaning of SEC regulations and the Board of Directors of ARL has determined that he has accounting and related financial management expertise within the meaning of the listing standards of the NYSE. Mr. Munselle is a Certified Public Accountant.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>RAYMOND D. ROBERTS, SR.,&nbsp;</b>age 88, Director, Independent, since June 2016</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Mr. Roberts is currently retired. Mr. Roberts has served as Director of the Company since June 2, 2016. He has also served as Director of IOR and TCI since June 2, 2016. For more than five years prior to December 31, 2014, he was Director of Aviation of Steller Aviation, Inc., a privately held corporation engaged in the business of aircraft (Boeing 737) and logistical management.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Board Meetings and Committees</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Board of Directors held five meetings during 2019. For such year, no incumbent Director attended fewer than 75% of the aggregate of (1)&nbsp;the total number of meetings held by the Board during the period for which he/she had been a Director and (2)&nbsp;the total number of meetings held by all committees of the Board on which he/she served during the periods that he/she served. Under ARL&#x2019;s Corporate Governance Guidelines, each Director is expected to dedicate sufficient time, energy and attention to ensure the diligent performance of his or her duties, including by attending meetings of the stockholders of the Company, the Board and Committees of which he is a member. The Board of Directors has standing Audit, Compensation, and Governance and Nominating Committees.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><i>Audit Committee.</i>&nbsp; The current Audit Committee was formed on February&nbsp;19, 2004, and its function is to review ARL&#x2019;s operating and accounting procedures. The charter of the Audit Committee has also been adopted by the Board. The charter of the Audit Committee was adopted on February&nbsp;19, 2004 and is available on the company&#x2019;s investor relations website (<u>www.americanrealtyinvest.com</u>). The Audit Committee is an &#x201C;audit committee&#x201D; for purposes of Section&nbsp;3(a) (58)&nbsp;of the Securities Exchange Act of 1934. The current members of the Audit Committee, all of whom are independent within the meaning of the SEC Regulations, the listing standards of the New York Stock Exchange, Inc., and ARL&#x2019;s Corporate Governance Guidelines, are Messrs. Jakuszewski, Munselle (Chairman) and Roberts. Mr.&nbsp;Ted&nbsp;R. Munselle, a member of the Committee, is qualified as an Audit Committee financial expert within the meaning of SEC Regulations, and the Board has determined that he has accounting and related financial management expertise within the meaning of the listing standards of the New&nbsp;York Stock Exchange, Inc. All of the members of the Audit Committee meet the experience requirements of the listing standards of the listing standards of the New York Stock Exchange. The Audit Committee met five times during 2019.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><i>Governance and Nominating Committee.</i>&nbsp; The Governance and Nominating Committee is responsible for developing and implementing policies and practices relating to corporate governance, including reviewing and monitoring implementation of ARL&#x2019;s Corporate Governance Guidelines. In addition, the Committee develops and reviews background information on candidates for the Board and makes recommendations to the Board regarding such candidates. The Committee also prepares and supervises the Board&#x2019;s annual review of director independence and the Board&#x2019;s performance self-evaluation. The Charter of the Governance and Nominating Committee was adopted on March&nbsp;22, 2004. The current members of the Committee are Messrs. Jakuszewski (Chairman), Roberts and Munselle. The Governance and Nominating Committee met two times during 2019.</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><i>Compensation Committee.</i>&nbsp; The Compensation Committee is responsible for overseeing the policies of the Company relating to compensation to be paid by the Company to the Company&#x2019;s principal executive officer and any other officers designated by the Board and make recommendations to the Board with respect to such policies, produce necessary reports and executive compensation for inclusion in the Company&#x2019;s Proxy Statement in accordance with applicable rules and regulations and to monitor the development and implementation of succession plans for the principal executive officers and other key executives and make recommendations to the Board with respect to such plans. The charter of the Compensation Committee was adopted on March&nbsp;22, 2004, and is available on the Company&#x2019;s Investor Relations website (<u>www.americanrealtyinvest.com</u>). The current members of the Compensation Committee are Messrs. Roberts (Chairman), Jakuszewski and Munselle. All of the members of the Compensation Committee are independent within the meaning of the listing standards of the NYSE American and the Company&#x2019;s Corporate Governance Guidelines. The Compensation Committee is to be comprised of at least two directors who are independent of Management and the Company. The Compensation Committee met two times during 2019.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The members of the Board of Directors on the date of this Report and the Committees of the Board on which they serve are identified below:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 58%; text-align: center;" valign="bottom">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>Director</b></p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; width: 12%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Audit Committee</b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt; width: 12%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Governance and<br>Nominating<br>Committee</b></p>
            </td>
            <td style="width: 1%;" valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt; width: 12%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Compensation<br>Committee</b></p>
            </td>
            <td style="width: 1%;">&nbsp;</td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Robert A. Jakuszewski</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">X</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">Chair</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">X</p>
            </td>
            <td>&nbsp;</td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Ted R. Munselle</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">Chair</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">X</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">X</p>
            </td>
            <td>&nbsp;</td>
        </tr>
        <tr>
            <td style="padding: 0pt;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Raymond D. Roberts Sr.</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">X</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">X</p>
            </td>
            <td valign="bottom">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">Chair</p>
            </td>
            <td>&nbsp;</td>
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        <tr>
            <td style="padding: 0pt;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Henry A. Butler</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>&nbsp;</td>
        </tr>
        <tr>
            <td style="padding: 0pt;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">William J. Hogan</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>&nbsp;</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Presiding Director</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In March 2004, the Board created a new position of presiding director, whose primary responsibility is to preside over periodic executive sessions of the Board in which Management directors and other members of Management do not participate. The presiding director also advises the Chairman of the Board and, as appropriate, Committee Chairs with respect to agendas and information needs relating to Board and Committee meetings, provides advice with respect to the selection of Committee Chairs and performs other duties that the Board may from time to time delegate to assist the Board in fulfillment of its responsibilities.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The day following the annual meeting of stockholders held December 11, 2019 representing all stockholders of record dated November 4, 2019, the full Board met and re-appointed Ted R. Munselle as Presiding Director, to serve in such position until the Company&#x2019;s next annual meeting of stockholders to be held subsequently in 2020.&nbsp;&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Determination of Director&#x2019;s Independence</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In February 2004, the Board adopted its Corporate Governance Guidelines. The Guidelines adopted by the Board meet or exceed the new listing standards adopted during that year by the New York Stock Exchange. The full text of the Guidelines can be found on the Company&#x2019;s Investor Relations website (<u>www.americanrealtyinvest.com</u>).</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Pursuant to the Guidelines, the Board undertook its annual review of director independence in March, 2019, and during this review, the Board considered transactions and relationships between each director or any member of his or her immediate family and ARL and its subsidiaries and related parties, including those reported under Certain Relationships and Related Transactions below. The Board also examined transactions and relationships between directors or their related parties and members of ARL&#x2019;s senior management or their related parties. As provided in the Guidelines, the purpose of such review was to determine whether such relationships or transactions were inconsistent with the determination that the director is independent.&nbsp;Prior to this election as director, on January 28, 2020, the Board undertook a similar review with respect to Mr. Hogan.</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As a result of these reviews, the Board affirmatively determined&nbsp; Messrs. Munselle, Hogan, Jakuszewski and Roberts are each independent of the Company and its Management under the standards set forth in the Corporate Governance Guidelines.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Executive Officers</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Executive officers of the Company are listed below, all except one of whom are employed by Pillar.&nbsp; None of the executive officers receive any direct remuneration from the Company nor do any hold any options granted by the Company. Their positions with the Company are not subject to a vote of stockholders. In addition to the following executive officers, the Company has several vice presidents and assistant secretaries who are not listed herein. The ages, terms of service and all positions and offices with the Company, Pillar, other related entities, other principal occupations, business experience and directorships with other publicly held companies during the last five years or more are set forth below. No family relationships exist among any of the executive officers or directors of the Company.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>DANIEL J. MOOS, 69</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Mr. Moos has served as President since April 2007 and Chief Executive Officer since March 2010 of IOR, ARL and TCI. Mr. Moos has also served as Prime&#x2019;s President since April 2007, Secretary since June 2011 and Treasurer since October 2013. He has also served as a Director since December 2016, President since December 2010, Chief Executive Officer since March 2011 and Treasurer since October 2013 of Pillar.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>LOUIS J. CORNA, 72</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Mr. Corna has served as Executive Vice President, General Counsel/Tax Counsel and Secretary since February 2004 of IOR, ARL and TCI. He has also been Executive Vice President since March 2011 and Secretary since December 2010 of Pillar. Mr.&nbsp;Corna was also a Director and Vice President from June&nbsp;2004 to December 2010 and Secretary from January 2005 to December 2010 of First Equity Properties, Inc., a Nevada corporation with securities registered under Section&nbsp;12(g) of the Exchange Act.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>ALLA DZYUBA, 43 </b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="color: black;">Mrs. Dzyuba has served as Vice President and Chief Accounting Officer of ARL, TCI and Southern Properties Capital, Ltd (TCI wholly owned BVI subsidiary) (&#x201C;SPC&#x201D;) since July 2019 as well as&nbsp;Director for SPC since April 2018. &nbsp;Mrs.&nbsp;Dzyuba has been employed by Pillar since June 2004, she has over fifteen years of real estate accounting and financial reporting experience, including six years of broker-dealer regulatory reporting experience. </font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Code of Ethics</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL has adopted a code of ethics entitled &#x201C;Code of Business Conduct and Ethics&#x201D; that applies to all directors, officers, and employees (including those of the contractual Advisor to ARL). In addition, ARL has adopted a code of ethics entitled &#x201C;Code of Ethics for Senior Financial Officers&#x201D; that applies to the principal executive officer, president, principal financial officer, chief financial officer, principal accounting officer, and controller. The text of these documents has been posted on ARL&#x2019;s internet website at (<u>www.americanrealtyinvest.com</u>)&nbsp;and are available in print to any stockholder who requests them.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Compliance with Section&nbsp;16(a) of the Securities Exchange Act of 1934</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under the securities laws of the United States, ARL&#x2019;s Directors, executive officers, and any persons holding more than 10% of ARL&#x2019;s shares of common stock are required to report their ownership and any changes in that ownership to the Securities and Exchange Commission (the &#x201C;Commission&#x201D;). Specific due dates for these reports have been established and ARL is required to report any failure to file by these dates. All of these filing requirements were satisfied by ARL&#x2019;s directors and executive officers and 10% holders during the fiscal year ended December&nbsp;31, 2019. In making these statements, ARL has relied on the written representations of its incumbent Directors and executive officers and its 10% holders and copies of the reports that they have filed with the Commission.</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>The Advisor</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Pillar has been ARL&#x2019;s Advisor and Cash Manager since April 30, 2011.&nbsp; Although the Board of Directors is directly responsible for managing the affairs of ARL, and for setting the policies which guide it, the day-to-day operations of ARL are performed by Pillar, as the contractual advisor, under the supervision of the Board.&nbsp; Pillar&#x2019;s duties include, but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities and arranging debt and equity financing for the Company with third party lenders and investors.&nbsp; Additionally, Pillar serves as a consultant to the Board with regard to their decisions in connection with ARL&#x2019;s business plan and investment policy.&nbsp; Pillar also serves as an Advisor and Cash Manager to TCI and IOR.&nbsp; As the contractual advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; The Advisor&#x201D;.&nbsp; ARL has no employees and as such, employees of Pillar render services to ARL in accordance with the terms of the Advisory Agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Pillar is a Nevada corporation, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member of which is RAI, a Nevada corporation, the sole shareholder of which is MRHI, a Nevada corporation, the sole shareholder of which is a trust known as the May Trust. &nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The May Trust is a Trust, the beneficiaries of which are the children of the late Gene E. Phillips.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under the Advisory Agreement, Pillar is required to annually formulate and submit, for Board approval, a budget and business plan containing a twelve-month forecast of operations and cash flow, a general plan for asset sales and purchases, lending, foreclosure and borrowing activity, and other investments. Pillar is required to report quarterly to the Board on ARL&#x2019;s performance against the business plan. In addition, all transactions require prior Board approval, unless they are explicitly provided for in the approved business plan or are made pursuant to authority expressly delegated to Pillar by the Board.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Advisory Agreement also requires prior Board approval for the retention of all consultants and third party professionals, other than legal counsel. The Advisory Agreement provides that Pillar shall be deemed to be in a fiduciary relationship to the ARL stockholders; contains a broad standard governing Pillar&#x2019;s liability for losses incurred by ARL; and contains guidelines for Pillar&#x2019;s allocation of investment opportunities as among itself, ARL and other entities it advises. Pillar is a company of which Messrs. Moos and Corna serve as executive officers.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Advisory Agreement with Pillar provides for Pillar to be responsible for the day-to-day operations of ARL and for Pillar to receive, as compensation for basic management and advisory services, a gross asset fee of 0.0625%&nbsp;per month (0.75% per annum) of the average of the gross asset value (total assets less allowance for amortization, depreciation or depletion and valuation reserves).</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">In addition to base compensation, Pillar receives the following forms of additional compensation:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(1)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">an annual net income fee equal to 7.5% of ARL&#x2019;s net income as an incentive for successful investment and management of the Company&#x2019;s assets;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(2)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">an annual incentive sales fee to encourage periodic sales of appreciated real property at optimum value equal to 10.0% of the amount, if any, by which the aggregate sales consideration for all real estate sold by ARL during such fiscal year exceeds the sum of:</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(a)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the cost of each such property as originally recorded in ARL&#x2019;s books for tax purposes (without deduction for depreciation, amortization or reserve for losses);</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(b)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">capital improvements made to such assets during the period owned; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(c)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">all closing costs (including real estate commissions) incurred in the sale of such real estate; provided however, no incentive fee shall be paid unless (a)&nbsp;such real estate sold in such fiscal year, in the aggregate, has produced an 8.0% simple annual return on the net investment including capital improvements, calculated over the holding period before depreciation and inclusive of operating income and sales consideration, and (b)&nbsp;the aggregate net operating income from all real estate owned for each of the prior and current fiscal years shall be at least 5.0% higher in the current fiscal year than in the prior fiscal year;</p>
            </td>
        </tr>
    </table>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(3)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">an acquisition commission, from an unaffiliated party of any existing mortgage or loan, for supervising the acquisition, purchase or long-term lease of real estate equal to the lesser of:</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(a)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">up to 1.0% of the cost of acquisition, inclusive of commissions, if any, paid to non-affiliated brokers; or</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(b)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">the compensation customarily charged in arm&#x2019;s-length transactions by others rendering similar property acquisition services as an ongoing public activity in the same geographical location and for comparable property, provided that the aggregate purchase price of each property (including acquisition fees and real estate brokerage commissions) may not exceed such property&#x2019;s appraised value at acquisition;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(4)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">a construction fee equal to 6.0% of the so-called &#x201C;hard costs&#x201D; only of any costs of construction on a completed basis, based upon amounts set forth as approved on any architect&#x2019;s certificate issued in connection with such construction, which fee is payable at such time as the applicable architect certifies other costs for payment to third parties. The phrase &#x201C;hard costs&#x201D; means all actual costs of construction paid to contractors, subcontractors and third parties for materials or labor performed as part of the construction but does not include items generally regarded as &#x201C;soft costs,&#x201D; which are consulting fees, attorneys&#x2019; fees, architectural fees, permit fees and fees of other professionals; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(5)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">reimbursement of certain expenses incurred by the advisor in the performance of advisory services.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Advisory Agreement also provides that Pillar receive the following forms of compensation:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(1)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">a mortgage or loan acquisition fee with respect to the acquisition or purchase from an unaffiliated party of any existing mortgage loan by ARL equal to the lesser of:</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(a)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">1.0% of the amount of the mortgage or loan purchased; or</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(b)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">a brokerage or commitment fee which is reasonable and fair under the circumstances. Such fee will not be paid in connection with the origination or funding of any mortgage loan by ARL; and</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(2)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">a mortgage brokerage and equity refinancing fee for obtaining loans or refinancing on properties equal to the lesser of:</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 98%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(a)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">1.0% of the amount of the loan or the amount refinanced; or</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px; width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.75in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">(b)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">a brokerage or refinancing fee which is reasonable and fair under the circumstances; provided, however, that no such fee shall be paid on loans from Pillar without the approval of ARL&#x2019;s Board of Directors. No fee shall be paid on loan extensions.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Under the ARL Advisory Agreement, all or a portion of the annual advisory fee must be refunded by the Advisor if the operating expenses of ARL (as defined in the Advisory Agreement) exceed certain limits specified in the Advisory Agreement based on the book value, net asset value, and net income of ARL during the fiscal year.&nbsp;&nbsp;&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The ARL Advisory Agreement requires Pillar to pay to ARL one-half of any compensation received from third parties with respect to the origination, placement or brokerage of any loan made by ARL; provided, however, that the compensation retained by Pillar shall not exceed the lesser of (1) 2.0% of the amount of the loan commitment or (2) a loan brokerage and commitment fee which is reasonable and fair under the circumstances.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The ARL Advisory Agreement further provides that Pillar shall bear the cost of certain expenses of its employees, excluding fees paid to ARL&#x2019;s Directors; rent and other office expenses of both Pillar and ARL (unless ARL maintains office space separate from that of Pillar); costs not directly identifiable to ARL&#x2019;s assets, liabilities, operations, business or financial affairs; and miscellaneous administrative expenses relating to the performance by Pillar of its duties under the Advisory Agreement.</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">If and to the extent that ARL shall request Pillar, or any director, officer, partner, or employee of Pillar, to render services for ARL other than those required to be rendered by the Advisory Agreement, Pillar separately would be compensated for such additional services on terms to be agreed upon between such party and ARL from time to time. As discussed below, under &#x201C;Property Management and Real Estate Brokerage,&#x201D; effective January 1, 2011, Regis Realty Prime, LLC, dba Regis Property Management, LLC (&#x201C;Regis&#x201D;), the sole member of which is Realty Advisors, LLC, manages our commercial properties and provides brokerage services under similar terms as the previous agreements with Triad and Regis Realty I.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL entered into a Cash Management Agreement with Pillar on April 30, 2011, to further define the administration of the Company&#x2019;s day-to-day investment operations, relationship contacts, flow of funds and deposit and borrowing of funds. Under the Cash Management Agreement, all funds of the Company are delivered to Pillar which has a deposit liability to the Company and is responsible for payment of all payables and investment of all excess funds which earn interest at the Wall Street Journal prime rate plus 1.0%&nbsp;per annum, as set quarterly on the first day of each calendar quarter. Borrowings for the benefit of the Company bear the same interest rate. The term of the Cash Management Agreement is coterminous with the Advisory Agreement, and is automatically renewed each year unless terminated with the Advisory Agreement. ARL&#x2019;s management believes that the terms of the Advisory Agreement are at least as fair as could be obtained from unaffiliated third parties.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Situations may develop in which the interests of ARL are in conflict with those of one or more directors or officers in their individual capacities, or of Pillar, or of their respective related parties. In addition to services performed for ARL, as described above, Pillar actively provides similar services as agent for, and advisor to, other real estate enterprises, including persons and entities involved in real estate development and financing, including TCI and IOR. The Advisory Agreement provides that Pillar may also serve as advisor to other entities.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As Advisor, Pillar is a fiduciary of ARL&#x2019;s public investors. In determining to which entity a particular investment opportunity will be allocated, Pillar will consider the respective investment objectives of each entity and the appropriateness of a particular investment in light of each such entity&#x2019;s existing mortgage note and real estate portfolios and business plan. To the extent any particular investment opportunity is appropriate to more than one such entity, such investment opportunity will be allocated to the entity that has had funds available for investment for the longest period of time, or, if appropriate, the investment may be shared among various entities. See Part III, Item&nbsp;13 &#x201C;Certain Relationships and Related Transactions, and Director Independence.&#x201D;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The terms of TCI&#x2019;s Advisory and Cash Management Agreements with Pillar are substantially the same as those of ARL&#x2019;s Advisory and Cash Management Agreements.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Pillar may assign the Advisory Agreement only with the prior consent of ARL.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The principal executive officers and directors of Pillar are set forth below:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt; width: 21%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Name</b></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 2%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>&nbsp;</b></p>
            </td>
            <td style="border-bottom: 1pt solid black; padding: 0pt 0pt 0pt 0pt; width: 77%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Directors/Officer(s)</b></p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 21%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Daniel J. Moos</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 2%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 77%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">President, Chief Executive Officer, Treasurer, Director</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 21%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Gina H. Kay</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 2%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 77%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Executive Vice President, Chief Accounting Officer&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 21%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Louis J. Corna</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 2%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 77%;" valign="bottom">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Executive Vice President, Secretary</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Property Management</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Regis Realty Prime, LLC, dba Regis Property Management, LLC (&#x201C;Regis&#x201D;), the sole member of which is Realty Advisors, LLC, manages our commercial properties for a fee of 3.0% or less of the monthly gross rents collected on the commercial properties it manages, and leasing commissions of 6.0% or less in accordance with the terms of its property-level management agreement.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">ARL engages third-party companies to lease and manage our apartment properties for a fee of 6.0% or less of the monthly gross rents collected on the residential properties under their management.&nbsp;&nbsp;&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Real Estate Brokerage</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Regis provides real estate brokerage services to ARL and receives brokerage commissions of 3% or less of transaction amounts.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Regis also provides real estate brokerage services to TCI under terms which differ from ARL. TCI&#x2019;s brokerage agreement is computed on a sliding scale as listed below:</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 18pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 18pt; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(1)</font>
                </p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">maximum fee of 4.5% on the first $2.0 million of any purchase or sale transaction of which no more than 3.5% is to be paid to Regis;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 18pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 18pt; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(2)</font>
                </p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">maximum fee of 3.5% on transaction amounts between $2.0 million-$5.0 million of which no more than 3.0% is to be paid to Regis;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 18pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 18pt; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(3)</font>
                </p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">maximum fee of 2.5% on transaction amounts between $5.0 million-$10.0 million of which no more than 2.0% is to be paid to Regis; and</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="width: 18pt;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 18pt; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">(4)</font>
                </p>
            </td>
            <td style="vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">a maximum fee of 2.0% on transaction amounts in excess of $10.0 million of which no more than 1.5% is to be paid to Regis.</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-align: justify; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>ITEM&nbsp;11.<i><b><a name="arl10ka019"></a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EXECUTIVE COMPENSATION</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ARL has no employees, payroll, or benefit plans, and pays no compensation to its executive officers. The Directors and executive officers of ARL, who are also officers or employees of Pillar, ARL&#x2019;s advisor, are compensated by Pillar. Such affiliated Directors and executive officers perform a variety of services for Pillar and the amount of their compensation is determined solely by Pillar. Pillar does not allocate the cash compensation of its officers among the various entities for which it serves as advisor. See Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance&#x201D; for a more detailed discussion of compensation payable to Pillar by ARL.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The only remuneration paid by ARL is to those directors who are not officers or employees of Pillar or its related companies. The Independent Directors (1)&nbsp;review the business plan of ARL to determine that it is in the best interest of ARL&#x2019;s stockholders, (2)&nbsp;review the advisory contract, (3)&nbsp;supervise the performance of the advisor and review the reasonableness of the compensation paid to the advisor in terms of the nature and quality of services performed, (4)&nbsp;review the reasonableness of the total fees and expenses of ARL and (5)&nbsp;select, when necessary, a qualified independent real estate appraiser to appraise properties acquired.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Effective February 2011 each non-affiliated Director is entitled to receive an annual retainer of $20,000, with the Chairman of the Audit Committee to receive a one-time annual fee of $500. Directors who are also employees of the Company or its advisor receive no additional compensation for service as a Director.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">During 2019, $66,992 was paid to non-employee Directors in total Directors&#x2019; fees. The fees paid to the directors are as follows: Robert A. Jakuszewski $20,000; Ted R. Munselle $20,500; Henry A. Butler $6,492; and Raymond D. Roberts, Sr. $20,000.</font>
    </p>
    <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 84; Value: 2-->
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54.0pt; text-align: justify; text-indent: -54.0pt; font: 10pt Times New Roman, Times, Serif;"><b>ITEM&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i><b><a name="arl10ka020"></a>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Security Ownership of Certain Beneficial Owners</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">The following table sets forth the ownership of ARL&#x2019;s common stock both beneficially and of record, both individually and in the aggregate, for those persons or entities known by ARL to be the owner of more than 5.0% of the shares of ARL&#x2019;s common stock as of the close of business on March 30, 2020.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px 0px 0px 0pt; width: 95%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp; </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Amount&nbsp;and Nature of<br> Beneficial Ownership*</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>&nbsp;</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Approximate&nbsp; <br> Percent of Class**</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="width: 57%;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>May Realty Holdings, Inc. </b></font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,916,450</font>
                </p>
            </td>
            <td style="width: 8%; vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)(2)(3)(4)</sup></font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.88</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1603 LBJ Freeway, Suite 800 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, Texas 75234 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp; </font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
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                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
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                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>RA Stock Holdings, Inc. </b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">2,460,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)</sup></font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">14.99</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1603 LBJ Freeway, Suite 800 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, Texas 75234 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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        </tr>
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            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
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            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Realty Advisors, Inc. </b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,916,450</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)(2)(3)(4)</sup></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.88</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1603 LBJ Freeway, Suite 800 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, Texas 75234 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
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            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: white;">
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Realty Advisors, LLC </b></font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">3,929,828</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)(2)</sup></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">23.94</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">1603 LBJ Freeway, Suite 800 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dallas, Texas 75234 </font>
                </p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left; white-space: nowrap;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">*</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&#x201C;Beneficial Ownership&#x201D; means the sole or shared power to vote, or to direct the voting of, a security or investment&nbsp;power with respect to a security, or any combination thereof.&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">**</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Percentages are based upon 16,412,861 shares outstanding as of March 25, 2020.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(1)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Includes 2,460,000 shares owned by RA Stock Holdings, Inc. (&#x201C;RASH&#x201D;), formerly One Realco Stock Holdings, a wholly-owned subsidiary of Realty Advisors, LLC (&#x201C;RALLC&#x201D;), over which each of the directors of RASH, Mickey Ned Phillips, may be deemed to be the beneficial owners by virtue of their positions as directors of RASH. The directors of RASH disclaim beneficial ownership of such.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(2)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Includes 3,929,828 shares owned directly by RALLC (&#x201C;RALLC&#x201D;), over which each of the managers, Alla Dzyuba and Daniel J. Moos, may be deemed to be beneficial owners by virtue of their positions as managers of&nbsp;RALLC. The managers of RALLC disclaim beneficial ownership of such shares.&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(3)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Includes 14,916,450 shares owned directly by Realty Advisors, Inc. (&#x201C;RAI&#x201D;) over which each of the directors and officers of RAI may be deemed beneficial owners, all of which disclaim beneficial ownership.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(4)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">RAI is a wholly owned subsidiary of May Realty Holdings, Inc. a Nevada corporation (&#x201C;MRHI&#x201D;).</p>
            </td>
        </tr>
    </table>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
    </div>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><i>Security Ownership of Management.</i>&nbsp; The following table sets forth the ownership of shares of ARL&#x2019;s common stock, both beneficially and of record, both individually in the aggregate, for the Directors and executive officers of ARL, as of the close of business on March 30, 2020.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin: 0px 0px 0px 0pt; width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Name of Beneficial Owner </b></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Amount&nbsp;and Nature of<br> Beneficial Ownership*</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;" colspan="2">
                <p style="margin: 0pt 0; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Approximate<br> Percent of Class**</b></font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="width: 62%;">
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Alla Dzyuba</font>
                </p>
            </td>
            <td style="width: 2%;">
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,916,450</font>
                </p>
            </td>
            <td style="width: 8%; vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)(2)(3)(4)</sup></font>
                </p>
            </td>
            <td style="width: 1%;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.88</font>
                </p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Henry A. Butler </font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">140,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(3)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.94</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Louis J. Corna </font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,916,450</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)(2)(3)(4)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.88</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Robert A. Jakuszewski </font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">140,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(3)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.94</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Daniel J. Moos </font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,921,450</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)(2)(3)(4)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.91</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Ted R. Munselle </font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">140,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(3)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.94</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">Raymond D. Roberts, Sr. </font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">140,000</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(3)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">0.94</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
        <tr>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">All Directors and Executive Officers as a group (7 individuals) </font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">14,916,450</font>
                </p>
            </td>
            <td style="vertical-align: bottom; text-align: left;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(1)(2)(3)(4)</sup></font>
                </p>
            </td>
            <td>
                <p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: right; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">90.88</font>
                </p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin: 0pt 0; text-align: left; font: 10pt Times New Roman, Times, Serif;">
                    <font style="color: black; font-family: Times New Roman, Times, Serif; font-size: 10pt;">%</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; width: 0.25in; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">*</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&#x201C;Beneficial Ownership&#x201D; means the sole or shared power to vote, or to direct the voting of, a security or investment&nbsp;power with respect to a security, or any combination thereof.&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">**</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Percentages are based upon 16,412,861 shares outstanding as of March 25, 2020.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(1)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Includes 3,929,828 shares owned direct by RALLC, over which the managers and executive offices of RALLC may be deemed to be the beneficial owners by virtue of their positions as managers and executive officers of RALLC; the managers and executive officers of RALLC disclaim beneficial ownership of such shares. Also includes 3,988,971 shares owned direct by RAI, over which the executive officers of RAI may be deemed to be the beneficial owners by virtue of their positions; the executive officers of RAI disclaim beneficial ownership of such shares.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(2)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Includes 2,460,000 shares owned by (RASH), over which the executive officers of RASH may be deemed the beneficial owners by virtue of their positions as executive officers of RASH; the executive officers of RASH disclaim beneficial ownership of such shares.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(3)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Includes 140,000 shares owned by Transcontinental Realty Investors, Inc. &#x201C;TCI&#x201D;, over which the directors and executive officers of TCI may be deemed to be the beneficial owners by virtue of their positions as directors and executive officers of TCI; the directors and executive officers of TCI disclaim beneficial ownership of such shares.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(4)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Includes 14,916,450 shares owned by RAI, over which the executive officers of RAI may be deemed to be the beneficial owners by virtue of their positions as executive of RAI; the executive officers of RAI disclaim beneficial ownership of such shares.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">(5)</p>
            </td>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Daniel J. Moos owns directly 5,000 shares.</p>
            </td>
        </tr>
    </table>
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            &nbsp;</p>
    </div>
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        <p style="margin: 0pt">&nbsp;</p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54pt; text-align: justify; text-indent: -54pt; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka021"></a>ITEM&nbsp;13.<i><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE</b></i>
        </b>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Policies with Respect to Certain Activities</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Article 11 of ARL&#x2019;s Articles of Incorporation provides that ARL shall not, directly or indirectly, contract or engage in any transaction with (1)&nbsp;any director, officer or employee of ARL, (2)&nbsp;any director, officer or employee of the advisor, (3)&nbsp;the advisor, or (4)&nbsp;any affiliate or associate (as such terms are defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended) of any of the aforementioned persons, unless (a)&nbsp;the material facts as to the relationship among or financial interest of the relevant individuals or persons and as to the contract or transaction are disclosed to or are known by ARL&#x2019;s Board of Directors or the appropriate committee thereof and (b)&nbsp;ARL&#x2019;s Board of Directors or committee thereof determines that such contract or transaction is fair to ARL and simultaneously authorizes or ratifies such contract or transaction by the affirmative vote of a majority of independent directors of ARL entitled to vote thereon.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Article 11 defines an &#x201C;Independent Director&#x201D; (for purposes of that Article) as one who is neither an officer or employee of ARL, nor a director, officer or employee of ARL&#x2019;s advisor. This definition predates ARL&#x2019;s director independence guidelines adopted in February 2004.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ARL&#x2019;s policy is to have such contracts or transactions approved or ratified by a majority of the disinterested Directors with full knowledge of the character of such transactions, as being fair and reasonable to the stockholders at the time of such approval or ratification under the circumstances then prevailing. Such Directors also consider the fairness of such transactions to ARL. Management believes that, to date, such transactions have represented the best investments available at the time and they were at least as advantageous to ARL as other investments that could have been obtained.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ARL may enter into future transactions with entities, the officers, directors, or stockholders of which are also officers, directors, or stockholders of ARL, if such transactions would be beneficial to the operations of ARL and consistent with ARL&#x2019;s then-current investment objectives and policies, subject to approval by a majority of disinterested Directors as discussed above.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ARL does not prohibit its officers, directors, stockholders, or related parties from engaging in business activities of the types conducted by ARL.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Certain Business Relationships</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Pillar has been ARL&#x2019;s Advisor and Cash Manager since April 30, 2011.&nbsp; Although the Board of Directors is directly responsible for managing the affairs of ARL, and for setting the policies which guide it, the day-to-day operations of ARL are performed by Pillar, as the contractual advisor, under the supervision of the Board.&nbsp; Pillar&#x2019;s duties include, but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities and arranging debt and equity financing for the Company with third party lenders and investors.&nbsp; Additionally, Pillar serves as a consultant to the Board with regard to their decisions in connection with ARL&#x2019;s business plan and investment policy.&nbsp; Pillar also serves as an Advisor and Cash Manager to TCI and IOR.&nbsp; As the contractual advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&nbsp;10. &#x201C;Directors, Executive Officers and Corporate Governance &#x2013; The Advisor&#x201D;.&nbsp; ARL has no employees and as such, employees of Pillar render services to ARL in accordance with the terms of the Advisory Agreement.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Pillar is a Nevada corporation, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member of which is RAI, a Nevada corporation, the sole shareholder of which is MRHI, a Nevada corporation, the sole shareholder of which is a trust known as the May Trust. &nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">All of ARL&#x2019;s directors also serve as Directors of TCI and IOR. The executive officers of ARL also serve as executive officers of TCI and IOR. As such, they owe fiduciary duties to that entity as well as to Pillar under applicable law. TCI has the same relationship with Pillar. Daniel J. Moos is the sole Manager and Class B 2% income Member of Victory Abode Apartments LLC, and owes fiduciary duties to VAA as well as ARL, TCI and IOR.</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Regis Realty Prime, LLC, dba Regis Property Management, LLC (&#x201C;Regis&#x201D;), the sole member of which is Realty Advisors, LLC, manages our commercial properties for a fee of 3.0% or less of the monthly gross rents collected on the commercial properties it manages, and leasing commissions of 6.0% or less in accordance with the terms of its property-level management agreement.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ARL engages third-party companies to lease and manage our apartment properties for a fee of 6.0% or less of the monthly gross rents collected on the residential properties under their management.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">At December 31, 2019, ARL owned approximately 78.38% of TCI&#x2019;s outstanding common stock and through its interest in TCI approximately 81.23% of IOR&#x2019;s outstanding common stock.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company is part of a tax sharing and compensating agreement with respect to federal income taxes between ARL, TCI and IOR and their subsidiaries. The expense (benefit) in each year was calculated based on the amount of losses absorbed by taxable income multiplied by the maximum statutory tax rate of 21%.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company&#x2019;s subsidiary, TCI, has a development agreement with Unified Housing Foundation, Inc. &#x201C;UHF&#x201D; a non-profit corporation that provides management services for the development of residential apartment projects in the future. The Company has also invested in surplus cash notes receivables from UHF and has sold several residential apartment properties to UHF in prior years. Due to this ongoing relationship and the significant investment in the performance of the collateral secured under the notes receivable, UHF has been determined to be a related party.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">TCI is the primary guarantor, on a $25.0 million mezzanine loan between UHF and a lender. In addition, ARL, and an officer of the Company are limited recourse guarantors of the loan. As of December 31, 2019 UHF was in compliance with the covenants to the loan agreement.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Related Party Transactions</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company has historically engaged in and may continue to engage in certain business transactions with related parties, including but not limited to asset acquisition and dispositions. Transactions involving related parties cannot be presumed to be carried out on an arm&#x2019;s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in the best interest of our company.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">In 2019, the Company paid advisory fees of $6.6 million, net income fees of $0.4 million, mortgage brokerage and equity refinancing fees of $0 million, cost reimbursements of $4.3 million and received interest of $4.7 million from Pillar.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Company paid property management fees, construction management fees and leasing commissions of $0.2 million to Regis in 2019.&nbsp; In addition, SPC is part of a management service agreement with the controlling shareholder owned company in which SPC for an annual payment of 0.5% on the value of the investment properties receives from the Advisor office space, administrative and management services. During 2019, SPC paid management fees to Pillar in the amount of $2.2 million.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">During 2019, the Company received $19.4 million cash distribution from VAA as a result of the annual surplus cash computation from its HUD collaterized residential properties and other amounts owed to the Company as agreed to in the joint venture operating agreement.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        </P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">In accordance with the provisions of the VAA Joint Venture Agreement
dated November 19, 2018, Southern and TCI are expected to receive approximately $14 million ($6 million and $8 million, respectively)
for the cash balances remaining in the transferred properties as of the date of the transaction. The cash balance was determined
and agreed upon by the partners in the joint venture, and based on the estimated bank balances on the day of closing. Additionally,
VAA did not purchase the accounts receivable or the utilities&rsquo; and other deposits. These items as well as the reconciliation
of the expense pro-rations will result in additional adjustments being required, subject to the consent of both parties. On February
6, 2019, Abode JVP, LLC, a fully owned subsidiary of SPC, received $7.4 million related to the cash credit and transferred it to
TCI.&nbsp; On May 15, 2019, Members of the Joint Venture agreed to record approximately $1.1 million of pro-ration adjustments
and &nbsp;on July 25,2019, the remaining outstanding balance has been paid in full.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">As of December 31, 2019, the Company had notes and interest receivables, net of allowances, of $96.0 million and $7.5 million, respectively, due from related parties. See Part 2, Item 8. Note 5. &#x201C;Notes and Interest Receivable&#x201D;. During the current period, the Company recognized interest income of $11.0 million, originated $21.4 million, received $18.3 and $10.4 million in principal payments and interest payments, respectively from these related party notes receivables.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Operating Relationships</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The Company received rental revenue of $1.3 million, $1.2 million, and $0.8 million in the years ended December 31, 2019, 2018, and 2017, respectively, from Pillar and its related parties for properties owned by the Company.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><b>Advances and Loans</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">From time to time, ARL and its related parties have made advances to each other, which generally have not had specific repayment terms, did not bear interest, are unsecured, and have been reflected in ARL&#x2019;s financial statements as other assets or other liabilities. ARL and the advisor charge interest on the outstanding balance of funds advanced to or from ARL. The interest rate, set at the beginning of each quarter, is the prime rate plus 1% on the average daily cash balances advanced. At December 31, 2019, Pillar owes ARL $85.9 million.</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: .0001pt; line-height: normal; text-align: justify;">
        <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><strong>Director Independence</strong></font>
    </p>
    <p style="margin-bottom: .0001pt; line-height: normal; text-align: justify;">
        <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><strong>&nbsp;</strong></font>
        <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">See &#x201C;Determination of Director Independence&#x201D; under Item 10 above to which reference is made.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 54pt; text-indent: -54pt; font: 10pt Times New Roman, Times, Serif;"><b><i><a name="arl10ka022"></a>ITEM&nbsp;14. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRINCIPAL ACCOUNTING FEES AND SERVICES</i></b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following table sets forth the aggregate fees for professional services rendered to ARL for the years 2019 and 2018 by ARL&#x2019;s principal accounting firms: Farmer, Fuqua and Huff, L.P., and Swalm and Associates, P.C.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center;" colspan="6">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2019</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; padding: 0pt; vertical-align: top; text-align: center;" colspan="6">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b>2018</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b style="text-align: center; font-size: 10pt;">Farmer, Fuqua &#38; Huff, L.P. (*)</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b style="text-align: center; font-size: 10pt;">Swalm &#38; Associates , P.C. (**)</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b style="text-align: center; font-size: 10pt;">Farmer, Fuqua &#38; Huff, L.P. (*)</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: #000000 1pt solid; vertical-align: bottom; text-align: center;" colspan="2">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, serif;"><b style="text-align: center; font-size: 10pt;">Swalm &#38; Associates , P.C. (**)</b></p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; width: 39%; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Audit Fees</p>
            </td>
            <td style="width: 2%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">424,675</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">53,024</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">821,200</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="width: 12%; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">72,210</p>
            </td>
            <td style="width: 1%; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Tax Fees</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">47,052</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">54,600</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">&#x2014;</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr style="background-color: #cceeff;">
            <td style="padding: 0pt; vertical-align: top;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">Total</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">471,727</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">53,024</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">875,800</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td>
                <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">$</p>
            </td>
            <td style="border-bottom: black 2pt double; vertical-align: bottom;">
                <p style="margin: 0pt; text-align: right; font: 10pt Times New Roman, Times, Serif;">72,210</p>
            </td>
            <td style="vertical-align: bottom;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(*) </sup>Fees include $0.24 million and $0.59 million related to TCI in 2019 and 2018, respectively.
            <font style="color: black;">&nbsp;</font>
        </font>
    </p>
    <p style="margin: 0px; text-indent: 0px; font: 10pt Times New Roman, Times, serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><sup>(**) </sup>Fees related to IOT</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The audit fees for 2019 and 2018 were for professional services rendered for the audits and reviews of the consolidated financial statements of ARL and its subsidiaries. Tax fees for 2019 and 2018 were for services related to federal and state tax compliance and advice.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">All services rendered by the principal auditors are permissible under applicable laws and regulations and were pre-approved by either the Board of Directors or the Audit Committee, as required by law. The fees paid to the principal auditors for the services described in the above table fall under the categories listed below:</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><i>Audit Fees.</i>&nbsp; These are fees for professional services performed by the principal auditor for the audit of the Company&#x2019;s annual financial statements and review of financial statements included in the Company&#x2019;s 10-Q filings and services that are normally provided in connection with statutory and regulatory filing or engagements.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><i>Audit-Related Fees.</i>&nbsp; These are fees for assurance and related services performed by the principal auditor that are reasonably related to the performance of the audit or review of the Company&#x2019;s financial statements. These services include attestations by the principal auditor that are not required by statute or regulation and consulting on financial accounting/reporting standards.</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><i>Tax Fees.</i> These are fees for professional services performed by the principal auditor with respect to tax compliance, tax planning, tax consultation, returns preparation, and review of returns. The review of tax returns includes the Company and its consolidated subsidiaries.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><i>All other Fees. </i>These are fees for other permissible work performed by the principal auditor that do not meet the above category descriptions</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">These services are actively monitored (as to both spending level and work content) by the Audit Committee to maintain the appropriate objectivity and independence in the principal auditor&#x2019;s core work, which is the audit of the Company&#x2019;s consolidated financial statements.</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Audit Committee has established policies and procedures for the approval and pre-approval of audit services and permitted non-audit services. The Audit Committee has the responsibility to engage and terminate ARL&#x2019;s independent auditors, to pre-approve their performance of audit services and permitted non-audit services, to approve all audit and non-audit fees, and to set guidelines for permitted non-audit services and fees. All the fees for 2019 and 2018 were pre-approved by the Audit Committee or were within the pre-approved guidelines for permitted non-audit services and fees established by the Audit Committee, and there were no instances of waiver of approved requirements or guidelines during the same periods.&nbsp;&nbsp;&nbsp;</font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Under the Sarbanes-Oxley Act of 2002 (the &#x201C;SOX Act&#x201D;) and the rules of the Securities and Exchange Commission (the &#x201C;SEC&#x201D;), the Audit Committee of the Board of Directors is responsible for the appointment, compensation, and oversight of the work of the independent auditor. The purpose of the provisions of the SOX Act and the SEC rules for the Audit Committee role in retaining the independent auditor is two-fold. First, the authority and responsibility for the appointment, compensation, and oversight of the auditors should be with directors who are independent of management. Second, any non-audit work performed by the auditors should be reviewed and approved by these same independent directors to ensure that any non-audit services performed by the auditor do not impair the independence of the independent auditor. To implement the provisions of the SOX Act, the SEC issued rules specifying the types of services that an independent may not provide to its audit client, and governing the Audit Committee&#x2019;s administration of the engagement of the independent auditor. As part of this responsibility, the Audit Committee is required to pre-approve the audit and non-audit services performed by the independent auditor in order to assure that they do not impair the auditor&#x2019;s independence. Accordingly, the Audit Committee has adopted a pre-approval policy of audit and non-audit services (the &#x201C;Policy&#x201D;), which sets forth the procedures and conditions pursuant to which services to be performed by the independent auditor are to be pre-approved. Consistent with the SEC rules establishing two different approaches to pre-approving non-prohibited services, the Policy of the Audit Committee covers pre-approval of audit services, audit-related services, international administration tax services, non-U.S. income tax compliance services, pension and benefit plan consulting and compliance services, and U.S. tax compliance and planning. At the beginning of each fiscal year, the Audit Committee will evaluate other known potential engagements of the independent auditor, including the scope of work proposed to be performed and the proposed fees, and approve or reject each service, taking into account whether services are permissible under applicable law and the possible impact of each non-audit service on the independent auditor&#x2019;s independence from management. Typically, in addition to the generally pre-approved services, other services would include due diligence for an acquisition that may or may not have been known at the beginning of the year. The Audit Committee has also delegated to any member of the Audit Committee designated by the Board or the financial expert member of the Audit Committee responsibilities to pre-approve services to be performed by the independent auditor not exceeding $25,000 in value or cost per engagement of audit and non-audit services, and such authority may only be exercised when the Audit Committee is not in session.</font>
    </p>
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            &nbsp;</p>
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        <p style="margin: 0pt">&nbsp;</p>
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    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b><a name="arl10ka023"></a>PART IV</b></p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top; text-align: justify;">
            <td style="width: 0in;"></td>
            <td style="width: 0.75in; text-align: left;"><b><a name="arl10ka024"></a>ITEM 15.</b></td>
            <td style="text-align: justify;"><b><i>EXHIBITS, FINANCIAL</i>&nbsp;<i>STATEMENT SCHEDULES</i></b></td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top; text-align: justify;">
            <td style="width: 0.08in;"></td>
            <td style="width: 0.25in; text-align: left;">(a)</td>
            <td style="text-align: justify;">The following documents are filed as part of this Report:</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top; text-align: justify;">
            <td style="width: 0.5in;"></td>
            <td style="width: 0.25in; text-align: left;"><b>1.</b></td>
            <td style="text-align: justify;"><b>Consolidated Financial Statements</b></td>
        </tr>
    </table>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Report of Independent Certified Public Accountants</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Consolidated Balance Sheets&#x2014;December 31, 2019 and 2018</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Consolidated Statements of Operations&#x2014;Years Ended December 31, 2019, 2018 and 2017</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Consolidated Statements of Shareholders&#x2019; Equity&#x2014;Years Ended December 31, 2019, 2018 and 2017</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Consolidated Statements of Cash Flows&#x2014;Years Ended December 31, 2019, 2018 and 2017</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Consolidated Statements of Comprehensive Income (Loss) &#x2013; Years Ended December 31, 2019, 2018 and 2017</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Notes to Consolidated Financial Statements</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top; text-align: justify;">
            <td style="width: 0.5in;"></td>
            <td style="width: 0.25in; text-align: left;"><b>2.</b></td>
            <td style="text-align: justify;"><b>Financial Statement Schedules</b></td>
        </tr>
    </table>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Schedule III&#x2014;Real Estate and Accumulated Depreciation</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Schedule IV&#x2014;Mortgage Loan Receivables on Real Estate</p>
    <p style="margin: 0pt 0 0pt 1in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">All other schedules are omitted because they are not applicable or because the required information is shown in the financial statements or the notes thereto.</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top; text-align: justify;">
            <td style="width: 0.5in;"></td>
            <td style="width: 0.25in; text-align: left;"><b>3.</b></td>
            <td style="text-align: justify;"><b>Incorporated Financial Statements</b></td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-left: 1.25in; margin-top: 0pt; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Consolidated Financial Statements of Income Opportunity Realty Investors, Inc. (Incorporated by reference to Item&nbsp;8. of Income Opportunity Realty Investors, Inc.&#x2019;s Annual Report on Form 10-K for the year ended December 31, 2019).</p>
    <p style="margin-bottom: 0pt; margin-left: 1in; margin-top: 0pt; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: 0pt; margin-left: 1.25in; margin-top: 0pt; text-align: justify; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">Consolidated Financial Statements of Transcontinental Realty Investors, Inc. (Incorporated by reference to Item&nbsp;8. of Transcontinental Realty Investors, Inc.&#x2019;s Annual Report on Form 10-K for the year ended December 31, 2019).</p>
    <p style="margin-bottom: 0pt; margin-left: 1in; margin-top: 0pt; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="margin-bottom: 0; margin-top: 0; width: 100%; font: 10pt Times New Roman, Times, Serif;" cellpadding="0" cellspacing="0">
        <tr style="vertical-align: top; text-align: justify;">
            <td style="width: 0.08in;"></td>
            <td style="width: 0.25in; text-align: left;">(b)</td>
            <td style="text-align: justify;">Exhibits.</td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-left: 1in; margin-top: 0pt; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
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            &nbsp;</p>
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    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">The following documents are filed as Exhibits to this Report:</p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr>
            <td style="border-bottom: black 1pt solid; padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; width: 7%; vertical-align: bottom; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Exhibit</b>&nbsp;
                    <br style="font-size: 10.0pt;"><b>Number</b>&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 3%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; width: 90%; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;"><b>Description</b></p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">3.1</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Certificate of Restated of Articles of Incorporation of American Realty Investors, Inc., dated August&nbsp;3, 2000 (incorporated by reference to Exhibit 3.0 to the Registrant&#x2019;s Quarterly Report on Form 10-Q for the quarter ended September&nbsp;30, 2000).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">3.2</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Certificate of Correction of Restated Articles of Incorporation of American Realty Investors, Inc., dated August&nbsp;29, 2000 (incorporate by reference to Exhibit 3.1 to the Registrant&#x2019;s Quarterly Report on Form&nbsp;10-Q for the quarter ended September&nbsp;30, 2000).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">3.3</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Articles of Amendment to the Restated Articles of Incorporation of American Realty Investors, Inc. decreasing the number of authorized shares of and eliminating Series B Cumulative Convertible Preferred Stock dated August&nbsp;26, 2003 (incorporated by reference to Exhibit 3.3 to the Registrant&#x2019;s Quarterly Report on Form 10-Q for the quarter ended September&nbsp;30, 2003).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">3.4</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Articles of Amendment to the Restated Articles of Incorporation of American Realty Investors, Inc. decreasing the number of authorized shares of and eliminating Series I Cumulative Preferred Stock dated October&nbsp;1, 2003 (incorporated by reference to Exhibit 3.4 to the Registrant&#x2019;s Quarterly Report on Form&nbsp;10-Q for the quarter ended September&nbsp;30, 2003).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">&nbsp;</td>
            <td style="padding: 0pt;">&nbsp;</td>
            <td style="padding: 0pt; vertical-align: bottom;">&nbsp;</td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;3.5</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">By-laws of American Realty Investors, Inc. (incorporated by reference to Exhibit 3.2 to the Registrant&#x2019;s Registration Statement on Form S-4, filed on December&nbsp;30, 1999).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">4.1</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Certificate of Designations, Preferences and Relative Participating or Optional or Other Special Rights, and Qualifications, Limitations or Restrictions Thereof of Series F Redeemable Preferred Stock of American Realty Investors, Inc., dated June&nbsp;11, 2001 (incorporated by reference to Exhibit 4.1 to the Registrant&#x2019;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2001).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">4.2</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Certificate of Withdrawal of Preferred Stock, Decreasing the Number of Authorized Shares of and Eliminating Series F Redeemable Preferred Stock, dated June&nbsp;18, 2002 (incorporated by reference to Exhibit 3.0 to the Registrant&#x2019;s Quarterly Report on Form 10-Q for the quarter ended June&nbsp;30, 2002).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">4.3</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Certificate of Designation, Preferences and Rights of the Series I Cumulative Preferred Stock of American Realty Investors, Inc., dated February&nbsp;3, 2003 (incorporated by reference to Exhibit 4.3 to the Registrant&#x2019;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2002).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">4.4</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Certificate of Designation for Nevada Profit Corporations designating the Series J 8% Cumulative Convertible Preferred Stock as filed with the Secretary of State of Nevada on March&nbsp;16, 2006 (incorporated by reference to Registrant current report on Form 8-K for event of March&nbsp;16, 2006).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">10.1</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Advisory Agreement between American Realty Investors, Inc. and Pillar Income Asset Management, LLC, dated April 30, 2011 (incorporated by reference to Exhibit 10.1 to the Registrant&#x2019;s Current Report on Form 8-K, dated April 30, 2011).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">10.2</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Second Amendment to Modification of Stipulation of Settlement dated October&nbsp;17, 2001 (incorporated by reference to Exhibit 10.1 to the Registrant&#x2019;s Registration Statement on Form S-4, dated February&nbsp;24, 2002).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">14.0</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Code of Ethics for Senior Financial Officers (incorporated by reference to Exhibit 14.0 to the Registrant&#x2019;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2004).</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">21.1 *</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Subsidiaries of the Registrant.</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">31.1 *</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Rule 13a-14(a) Certification by Principal Executive Officer.</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">31.2 *</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Rule 13a-14(a) Certification by Principal Financial Officer.</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; text-align: center;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-left: 0pt; padding-top: 0pt; vertical-align: top; text-align: center; white-space: nowrap;">
                <p style="margin-bottom: 0pt; margin-top: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">32.1 *</p>
            </td>
            <td style="padding: 0pt;">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">* Filed herewith.</p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><strong><em>&nbsp;</em></strong></p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><strong><em><a name="a_001"></a>ITEM 16. &nbsp;&nbsp;FORM 10-K SUMMARY</em></strong></p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin-bottom: .0001pt; line-height: normal; text-align: justify;">
        <font style="font-size: 10pt;">Optional and not included herein.</font>
    </p>
    <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 92; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->92
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>SIGN<a name="arl10ka025"></a>ATURES</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Pursuant to the requirements of Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
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                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 7.2pt; width: 3%; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; width: 47%; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps;">AMERICAN Realty Investors, Inc.</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt 0pt 0pt 12pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; text-indent: -12pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Dated: March 30, 2020</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0.75pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">p;By:</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; text-indent: 0px; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/&nbsp; ALLA DZYUBA&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt 0pt 0pt 7.2pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 7.2pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Alla Dzyuba&nbsp; </b></font>
                </p>
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Vice President and Chief Accounting Officer</b>&nbsp;</font>
                </p>
                <p style="margin: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>(Principal Financial Officer)</b>&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <p style="margin: 0pt; text-align: justify; text-indent: 24.5pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.</b></font>
    </p>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">
        <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
    </p>
    <table style="margin: 0px; width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0">
        <tr style="font: 10pt Times New Roman, Times, Serif;">
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                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Signature</b></font>
                </p>
            </td>
            <td style="padding: 0pt; width: 1%; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; width: 40%; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Title</b></font>
                </p>
            </td>
            <td style="padding: 0pt; width: 1%; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; padding: 0pt; width: 23%; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Date</b></font>
                </p>
            </td>
        </tr>
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            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
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            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/&nbsp;
                        <font style="font-variant: small-caps;">Henry A. Butler</font>
                    </font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Chairman of the Board and Director</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">March 30, 2020</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Henry A. Butler</b></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="border-bottom: Black 1pt solid; padding: 0pt; vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/
                    <font style="font-variant: small-caps;">William J. Hogan</font>
                </font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Director</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">March 30, 2020</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>William J. Hogan</b></font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
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            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
            </td>
        </tr>
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            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/&nbsp;
                        <font style="font-variant: small-caps;">Robert A. Jakuszewski</font>
                    </font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Director</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">March 30, 2020</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Robert A. Jakuszewski</b></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
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                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
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            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/&nbsp;
                        <font style="font-variant: small-caps;">Raymond D. Roberts, Sr.</font>
                    </font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Director</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">March 30, 2020</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Raymond D. Roberts, Sr.</b></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                ;<p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/&nbsp;
                        <font style="font-variant: small-caps;">Ted R. Munselle</font>
                    </font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Director</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">March 30, 2020</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Ted R. Munselle</b></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/&nbsp;
                        <font style="font-variant: small-caps;">Daniel J. Moos</font>
                    </font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 9pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;" rowspan="2">
                <p style="margin: 0pt; text-indent: -9pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">President and Chief Executive Officer&nbsp;
                        <br>(Principal Executive Officer)</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">March 30, 2020</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Daniel J. Moos</b></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="border-bottom: black 1pt solid; padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">/s/&nbsp;
                        <font style="font-variant: small-caps;">Alla Dzyuba</font>
                    </font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt 0pt 0pt 9pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;" rowspan="2">
                <p style="margin: 0pt; text-indent: -9pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Vice President and Chief Accounting</font>
                </p>
                <p style="margin: 0pt; text-indent: -9pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Officer&nbsp;(Principal Financial Officer)</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">March 30, 2020</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif;">
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"><b>Alla Dzyuba</b></font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
            <td style="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif;">
                <p style="margin: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif;">
                    <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">&nbsp;</font>
                </p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <!-- Field: Page; Sequence: 93; Value: 2-->
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        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->93
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            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ANNUAL
    REPORT ON FORM 10-K</B></FONT></p>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
    INDEX</B></FONT></p>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></p>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
    the Year Ended December 31, 2019</B></FONT></p>
    <TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; width: 100%">
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000093066100002955/0000930661-00-002955-0002.txt" STYLE="-sec-extract: exhibit">3.1</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
                of Restatement of Articles of Incorporation of American Realty Investors, Inc., dated August&nbsp;3, 2000 (incorporated
                by reference to Exhibit 3.0 to the Registrant&#x2019;s Quarterly Report on Form 10-Q for the quarter ended September&nbsp;30,
                2000).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000093066100002955/0000930661-00-002955-0003.txt" STYLE="-sec-extract: exhibit">3.2</A></FONT></td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
                of Correction of Restated Articles of Incorporation of American Realty Investors, Inc., dated August&nbsp;29,
                2000 (incorporate by reference to Exhibit 3.1 to the Registrant&#x2019;s Quarterly Report on Form&nbsp;10-Q for
                the quarter ended September&nbsp;30, 2000).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000119312503081992/dex33.htm">3.3</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Articles
                of Amendment to the Restated Articles of Incorporation of American Realty Investors, Inc. decreasing the number
                of authorized shares of and eliminating Series B Cumulative Convertible Preferred Stock dated August&nbsp;26,
                2003 (incorporated by reference to Exhibit 3.3 to the Registrant&#x2019;s Quarterly Report on Form 10-Q for the
                quarter ended September&nbsp;30, 2003).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000119312503081992/dex34.htm">3.4</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Articles
                of Amendment to the Restated Articles of Incorporation of American Realty Investors, Inc. decreasing the number
                of authorized shares of and eliminating Series I Cumulative Preferred Stock dated October&nbsp;1, 2003 (incorporated
                by reference to Exhibit 3.4 to the Registrant&#x2019;s Quarterly Report on Form&nbsp;10-Q for the quarter ended
                September&nbsp;30, 2003).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000093066199002922/0000930661-99-002922.txt">3.5</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By-laws
                of American Realty Investors, Inc. (incorporated by reference to Exhibit 3.2 to the Registrant&#x2019;s Registration
                Statement on Form S-4, filed on December&nbsp;30, 1999).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000093066102001003/dex41.txt">4.1</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
                of Designations, Preferences and Relative Participating or Optional or Other Special Rights, and Qualifications,
                Limitations or Restrictions Thereof of Series F Redeemable Preferred Stock of American Realty Investors, Inc.,
                dated June&nbsp;11, 2001 (incorporated by reference to Exhibit 4.1 to the Registrant&#x2019;s Annual Report on
                Form 10-K for the year ended December&nbsp;31, 2001).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000093066102002953/dex30.txt">4.2</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
                of Withdrawal of Preferred Stock, Decreasing the Number of Authorized Shares of and Eliminating Series F Redeemable
                Preferred Stock, dated June&nbsp;18, 2002 (incorporated by reference to Exhibit 3.0 to the Registrant&#x2019;s
                Quarterly Report on Form 10-Q for the quarter ended June&nbsp;30, 2002).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000093066103001721/dex43.txt">4.3</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
                of Designation, Preferences and Rights of the Series I Cumulative Preferred Stock of American Realty Investors,
                Inc., dated February&nbsp;3, 2003 (incorporated by reference to Exhibit 4.3 to the Registrant&#x2019;s Annual
                Report on Form 10-K for the year ended December&nbsp;31, 2002).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000095013406005878/d34423exv4w4.htm">4.4</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
                of Designation for Nevada Profit Corporations designating the Series J 8% Cumulative Convertible Preferred Stock
                as filed with the Secretary of State of Nevada on March&nbsp;16, 2006 (incorporated by reference to Registrant
                current report on Form 8-K for event of March&nbsp;16, 2006).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000095012311042716/d81819exv10w1.htm">10.1</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advisory
                Agreement between American Realty Investors, Inc. and Pillar Income Asset Management, LLC, dated April 30, 2011
                (incorporated by reference to Exhibit 10.0 to the Registrant&#x2019;s Current Report on Form 8-K, dated April
                30, 2011).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/733590/000095013402000649/d93825ex10-1.txt">10.2</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
                Amendment to Modification of Stipulation of Settlement dated October&nbsp;17, 2001 (incorporated by reference
                to Exhibit 10.1 to the Registrant&#x2019;s Registration Statement on Form S-4, dated February&nbsp;24, 2002).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1102238/000119312505067232/dex140.htm">14.0</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Code
                of Ethics for Senior Financial Officers (incorporated by reference to Exhibit 14.0 to the Registrant&#x2019;s
                Annual Report on Form 10-K for the year ended December&nbsp;31, 2004).</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
            </td>
        </tr>
        <TR STYLE="font: 10pt Times New Roman, Times, Serif">
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex21-1.htm">21.1
                *</A></FONT></p>
            </td>
            <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 93%; text-align: left; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsidiaries
                of the Registrant.</FONT></p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-top: 0pt; width: 7%;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 18.95pt; width: 93%; text-align: left;">
                <p style="margin: 0pt; text-align: left; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding-bottom: 0pt; padding-top: 0pt; width: 7%; vertical-align: top;">
                <p style="margin-bottom: 0pt; margin-right: 0pt; margin-top: 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><a href="ex31-1.htm">31.1 *</a></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%; text-align: left;" valign="bottom">
                <p style="margin: 0pt; text-align: left; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">Rule 13a-14(a) Certification by Principal Executive Officer.</p>
            </td>
        </tr>
        <TR>
            <TD STYLE="padding-bottom: 0pt; padding-top: 0pt; vertical-align: top">&nbsp;</TD>
            <TD STYLE="padding: 0pt; text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
</table>
    <!-- Field: Page; Sequence: 94; Value: 2-->
    <div style="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid">
        <p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
            <!-- Field: Sequence; Type: Arabic; Name: PageNo-->94
            <!-- Field: /Sequence -->
            &nbsp;</p>
    </div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt">
        <p style="margin: 0pt">&nbsp;</p>
    </div>
    <!-- Field: /Page -->
    <table style="width: 100%; border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><a href="ex31-2.htm">31.2 *</a></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">Rule 13a-14(a) Certification by Principal Financial Officer.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 18.95pt; width: 93%;">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;"><a href="ex32-1.htm">32.1 *</a></p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 18.95pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: -12.0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">101.INS</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">XBRL Instance Document</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 93%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">101.SCH</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">XBRL Taxonomy Extension Schema Document</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 93%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">101.CAL</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">XBRL Taxonomy Extension Calculation Linkbase Document</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 93%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">101.DEF</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">XBRL Taxonomy Extension Definition Linkbase Document</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 93%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">101.LAB</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">XBRL Taxonomy Extension Label Linkbase Document</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
            <td style="padding: 0pt; width: 93%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
            </td>
        </tr>
        <tr>
            <td style="padding: 0pt; width: 7%;" valign="top">
                <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">101.PRE</p>
            </td>
            <td style="padding: 0pt 0pt 0pt 0pt; width: 93%;" valign="bottom">
                <p style="margin: 0pt 0pt 0pt 0pt; text-align: justify; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif;">XBRL Taxonomy Extension Presentation Linkbase Document</p>
            </td>
        </tr>
    </table>
    <p style="margin-bottom: 0pt; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif;">&nbsp;</p>
    <p style="margin: 0pt 0pt 0pt 0pt; font: 10pt Times New Roman, Times, Serif;">* Filed herewith.</p>
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            &nbsp;</p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>2
<FILENAME>ex21-1.htm
<DESCRIPTION>SUBSIDIARIES OF THE REGISTRANT
<TEXT>
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<HEAD>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</p>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"></P>

<P><A HREF="arl-10k_123119.htm">American Realty Investors, Inc. 10-K</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>EXHIBIT
21.1&nbsp;</B></FONT></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AMERICAN
REALTY INVESTORS, INC.&nbsp;</B></FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0pt 0pt 0pt 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SUBSIDIARIES
OF THE REGISTRANT</B></FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following is a list of all subsidiaries of and partnership interests of American Realty Investors, Inc., the percentage of ownership
and the state or other jurisdiction of organization or incorporation as of December 31, 2019. Partnership and limited liability
company ownership includes ownership held through one or more subsidiaries.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Corporations
(including direct and indirect ownership through subsidiaries)</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>

<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; margin: 0px">
<tr style="vertical-align: bottom">
    <td style="padding-left: 16px; font-weight: bold; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</font></td>
    <td style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ownership</font></td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jurisdiction</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px; width: 65%; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ART
    Edina, Inc.</font></td>
    <td style="width: 16%; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="width: 16%; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ART
    Elm Fork Ranch, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ART
    Florentina, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ART
    GNB, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ART
    Lake Chateau, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EQK
    Holdings, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EQK
    Port Olpenitz, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">RA
    Majestic, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transcontinental
    Realty Acquisition Corporation</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 16px; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transcontinental
    Realty Investors, Inc.</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">61.57%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></FONT></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; margin: 0px">
<tr style="vertical-align: middle; background-color: white">
    <td colspan="3" style="font-weight: bold; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">LLC
    interests (including direct and indirect ownership through subsidiaries)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 16px; font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-bottom: Black 0.5pt solid; font-weight: bold; width: 65%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</font></td>
    <td style="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 16%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ownership</font></td>
    <td style="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 16%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jurisdiction</font></td></tr>
<tr style="vertical-align: middle; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AM Manager, LLC</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: middle; background-color: White">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ATI Mineral Holdings, LLC</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: middle; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trinity East Energy, llc</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.50%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</font></td></tr>
<tr style="vertical-align: middle; background-color: White">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EQK Holdings, LLC</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: middle; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EQK Texas Plaza Land, LLC</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
<tr style="vertical-align: middle; background-color: White">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gruppa Florentina, LLC</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</font></td></tr>
<tr style="vertical-align: middle; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valwood Acres, LLC</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</font></td></tr>
</table>

<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>

<p style="margin-top: 0; margin-bottom: 0"></p>

<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; margin: 0px">
<tr style="vertical-align: middle; background-color: white">
    <td colspan="3" style="font-weight: bold; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Partnership
    interests (including direct and indirect ownership through subsidiaries)</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 16px; font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="border-bottom: Black 0.5pt solid; font-weight: bold; width: 65%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</font></td>
    <td style="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 16%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ownership</font></td>
    <td style="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center; width: 16%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jurisdiction</font></td></tr>
<tr style="vertical-align: middle; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cross County National Associates, LP</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</font></td></tr>
<tr style="vertical-align: middle; background-color: White">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Edina Park Plaza Associates Limited Partnership</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</font></td></tr>
<tr style="vertical-align: middle; background-color: rgb(204,238,255)">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elm Fork Ranch Partners, LTD</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</font></td></tr>
<tr style="vertical-align: middle; background-color: White">
    <td style="padding-left: 16px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Garden Whispering Pines, LP **</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.00%</font></td>
    <td style="text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</font></td></tr>
<tr style="vertical-align: bottom">
    <td style="padding-left: 16px; font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>
<tr style="background-color: White">
    <td style="vertical-align: middle"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">**Entity subsequently
    dissolved after 12/31/19</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>
    <td style="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>
</table>


<p style="margin-top: 0; margin-bottom: 0"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"></FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
1: Transcontinental Realty Investors, Inc., a Nevada corporation &#8220;TCI&#8221;, is also a subsidiary of the Registrant through
the ownership of approximately 78.38% of the outstanding common stock of TCI by the Registrant and Transcontinental Realty Acquisition
Corporation. A list of all subsidiaries and partnership interests of TCI is filed as an exhibit to TCI&#x2019;s Annual Report
on Form 10-K for the fiscal year ended December 31, 2019 (the &#8220;TCI Form 10-K&#8221;) which was filed with the Commission
on March 30, 2020 which exhibit is incorporated by reference herein.</FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0pt;"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
2: Income Opportunity Realty Investors, Inc., a Nevada corporation &#8220;IOR&#8221;, is also an indirect subsidiary of the Registrant
through the ownership of approximately 81.23% of the outstanding common stock of IOR by Transcontinental Realty Investors, Inc.
(see note 1). A list of all subsidiaries and partnership interests of IOR is filed as an exhibit to IOR&#x2019;s annual Report
on Form 10-K for the fiscal year ended December 31, 2019 which was filed with the Commission on March 30, 2020 which exhibit is
incorporated by reference herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="color: black">&nbsp;</font></p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>ex31-1.htm
<DESCRIPTION>CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
<TEXT>
<html><head><title></title></head><body>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
<P><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="arl-10k_123119.htm">American Realty Investors, Inc. 10-K</a></FONT></P>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXHIBIT
31.1</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CERTIFICATION</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I,
Daniel J. Moos, certify that:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="vertical-align: top; width: 24pt"><p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; text-indent: 0px;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</font></p>
</td>
<td style="padding: 0px; vertical-align: top"><p style="font: 10pt Times New Roman, Times, serif; text-align: justify; margin: 0pt; text-indent: 0px;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I
                                         have reviewed this annual report of American Realty Investors, Inc.;</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</font></p>
</td>
<td style="padding: 0pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
                                         on my knowledge, this report does not contain any untrue statement of a material fact
                                         or omit to state a material fact necessary to make the statements made, in light of the
                                         circumstances under which such statements were made, not misleading with respect to the
                                         period covered by this report;</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</font></p>
</td>
<td style="padding: 0pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
                                         on my knowledge, the financial statements, and other financial information included in
                                         this report, fairly present in all material respects the financial condition, results
                                         of operations and cash flows of the registrant as of, and for, the periods presented
                                         in this report;</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</font></p>
</td>
<td style="padding: 0pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         registrant&#x2019;s other certifying officer(s) and I are responsible for establishing
                                         and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
                                         13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in
                                         Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></p>
</td>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Designed
                                       such disclosure controls and procedures or caused such disclosure controls and procedures
                                       to be designed under my supervision, to ensure that material information relating to the
                                       registrant, including its consolidated subsidiaries, is made known to me by others within
                                       those entities, particularly during the period in which this report is being prepared;</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></p>
</td>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Designed
                                       such internal controls over financial reporting, or caused such internal control over financial
                                       reporting to be designed under my supervision, to provide reasonable assurance regarding
                                       the reliability of financial reporting and the preparation of financial statements for
                                       external purposes in accordance with generally accepted accounting principles;</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</font></p>
</td>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evaluated
                                       the effectiveness of the registrant&#x2019;s disclosure controls and procedures and presented
                                       in this report my conclusions about the effectiveness of the disclosure controls and procedures,
                                       as of the end of the period covered by this report based on such evaluations; and</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</font></p>
</td>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Disclosed
                                       in the report any change in the registrant&#x2019;s internal control over financial reporting
                                       that occurred during the registrant&#x2019;s most recent fiscal quarter (the registrant&#x2019;s
                                       fourth fiscal quarter in the case of an annual report) that has materially affected, or
                                       is reasonably likely to materially affect, the registrant&#x2019;s internal control over
                                       financial reporting; and</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</font></p>
</td>
<td style="padding: 0pt; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                         registrant&#x2019;s other certifying officer(s) and I have disclosed, based on the most
                                         recent evaluation of internal control over financial reporting, to the registrant&#x2019;s
                                         auditors and the audit committee of the registrant&#x2019;s board of directors (or persons
                                         performing the equivalent functions):</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</font></p>
</td>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
                                       significant deficiencies and material weaknesses in the design or operation of internal
                                       control over financial reporting which are reasonably likely to adversely affect the Registrant&#x2019;s
                                       ability to record, process, summarize and report financial information; and</font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</font></p>
</td>
<td style="padding: 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
                                       fraud, whether or not material, that involves management or other employees who have a
                                       significant role in the registrant&#x2019;s internal control over financial reporting.</font></p>
</td>
</tr>

</table>

<table style="width: 100%; border-collapse: collapse; margin: 0px;" border="0" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:50%;"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt;width:50%;"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:
                                         March 30, 2020</font></p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt; border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/                                         <font style="font-variant: small-caps">Daniel J. Moos</font></font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt 0pt 0pt 7.2pt;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Daniel
                                         J. Moss</b></font></p>
</td>
</tr>
<tr>
<td style="padding: 0pt 0pt 0pt 7.2pt;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>President
                                         and Chief Executive Officer</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Principal
Executive Officer)</b></font></p>
</td>
</tr>

</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>4
<FILENAME>ex31-2.htm
<DESCRIPTION>CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER
<TEXT>
<html><head><title></title></head><body>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
<P><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="arl-10k_123119.htm">American Realty Investors, Inc. 10-K</a></FONT></P><p style="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt;"><b>EXHIBIT 31.2</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0pt;"><b>CERTIFICATION</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">I, Alla Dzyuba, certify that:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="vertical-align: top; width: 24pt">
<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt; text-indent: 0px;">1.</p>
</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif; text-align: justify; margin: 0pt; text-indent: 0px;">I have reviewed this annual report of American Realty Investors, Inc.;</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">2.</p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">3.</p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">4.</p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">The registrant&#x2019;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">(a)</p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">(b)</p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">(c)</p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Evaluated the effectiveness of the registrant&#x2019;s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluations; and</p>
</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">(d)</p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Disclosed in the report any change in the registrant&#x2019;s internal control over financial reporting that occurred during the registrant&#x2019;s most recent fiscal quarter (the registrant&#x2019;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#x2019;s internal control over financial reporting; and</p>
</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%; width: 100%">

<tr>
<td style="padding: 0pt; width: 24pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">5.</p>
</td>
<td style="padding: 0pt; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">The registrant&#x2019;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#x2019;s auditors and the audit committee of the registrant&#x2019;s board of directors (or persons performing the equivalent functions):</p>
</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">(a)</p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant&#x2019;s ability to record, process, summarize and report financial information; and</p>
</td>
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table style="margin: 0px; width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:24pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt;">(b)</p>
</td>
<td style="padding: 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#x2019;s internal control over financial reporting.</p>
</td>
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"></p>
<table style="width: 100%; border-collapse: collapse; margin: 0px;" border="0" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:50%;">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:4%;">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt;width:46%;">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
</tr>
<tr>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Dated: March 30, 2020</p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">By:</p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt; border-bottom: 1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">/s/&nbsp;<FONT STYLE="font-variant: small-caps">Alla
Dzyuba</FONT></p>
</td>
</tr>
<tr>
<td style="padding: 0pt 0pt 0pt 7.2pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt 0pt 0pt 7.2pt;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>Alla Dzyuba</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>Vice President and Chief Accounting Officer</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>(Principal Financial Officer)</b></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>5
<FILENAME>ex32-1.htm
<DESCRIPTION>CERTIFICATIONS OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
<TEXT>
<html><head><title></title></head><body>
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
<P><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="arl-10k_123119.htm">American Realty Investors, Inc. 10-K</a></FONT></P>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt;"><b>EXHIBIT 32.1</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0pt;"><b>Certification Pursuant to 18 U.S.C. Section&nbsp;1350,</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0pt;"><b>as Adopted Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, serif; text-align: justify; margin: 0pt; text-indent: 0px;">In connection with the Annual Report of American Realty Investors, Inc. (the &#8220;Company&#8221;), on Form&nbsp;10-K for the year ended December 31, 2019 as filed with the Securities Exchange Commission on the date hereof (the &#8220;Report&#8221;), the undersigned Daniel J. Moos, President and Chief Executive Officer (Principal Executive Officer) and Alla Dzyuba, Vice President and Chief Accounting Officer of the Company (Principal Financial Officer) do hereby certify, pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, that:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">The Report fully complies with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934; and</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
<table style="width: 100%; border-collapse: collapse; margin: 0px;" border="0" cellspacing="0" cellpadding="0">

<tr>
<td style="padding: 0pt;width:50%;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Dated: March 30, 2020</p>
</td>
<td style="padding: 0pt;border-bottom: 1pt solid black;width:50%;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">/s/&nbsp;<font style="font-variant: small-caps;">Daniel J. Moos</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
</td>
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<td style="padding: 0pt 0pt 0pt 7.2pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>Daniel J. Moos</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>President and Chief Executive Officer</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>(Principal Executive Officer)</b></p>
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<tr>
<td style="padding: 0pt 0pt 0pt 0pt;">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt;">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
</td>
</tr>
<tr>
<td style="padding: 0pt 0pt 0pt 0pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">Dated: March 30, 2020</p>
</td>
<td style="padding: 0pt 0pt 0pt 0pt; border-bottom: 1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">/s/&nbsp;<FONT STYLE="font-variant: small-caps">ALLA
DZYUBA</FONT></p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;">&nbsp;</p>
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<td style="padding: 0pt 0pt 0pt 0pt;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>Alla Dzyuba</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>Vice President and Chief Accounting Officer</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt;"><b>(Principal Financial Officer)</b></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>
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    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_ForestPinesMember">Forest Pines</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_SpyglassApartmentsofEnnisLPMember">Spyglass Apartments of Ennis, LP</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_BellwetherRidgeMember">Bellwether Ridge</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_ParcatWindmillFarmsMember">Parc at Windmill Farms</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_RAIPFBL2018PurchFeeNoteWeatherfordMember">RAI PFBL 2018 Purch Fee Note Weatherford</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_AutumnBreezeMember">Autumn Breeze</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_PlumTreeMember">Plum Tree</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_InglesideMember">Ingleside</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_RNCMember">RNC</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_RevolvingLineOfCreditSteepleCrestMember">Revolving Line of Credit Steeple Crest</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncKensingtonParkMember" id="Foot-00-52">Unified Housing Foundation, Inc. (Echo Station)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLakeshoreVillasMember" id="Foot-00-53">Unified Housing Foundation, Inc. (Inwood on the Park)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLakeshoreVillas1Member" id="Foot-00-54">Unified Housing Foundation, Inc. (Kensington Park)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLimestoneRanch1Member" id="Foot-00-55">Unified Housing Foundation, Inc. (Lakeshore Villas)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLimestoneRanch2Member" id="Foot-00-56">Unified Housing Foundation, Inc. (Lakeshore Villas)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember" id="Foot-00-57">Unified Housing Foundation, Inc. (Lakeshore Villas)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember" id="Foot-00-58">Unified Housing Foundation, Inc. (Limestone Ranch)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member" id="Foot-00-59">Unified Housing Foundation, Inc. (Limestone Ranch)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member" id="Foot-00-60">Unified Housing Foundation, Inc. (Limestone Ranch)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncTimbersofTerrellMember" id="Foot-00-61">Unified Housing Foundation, Inc. (Reserve at White Rock Phase I)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncTivoliMember" id="Foot-00-62">Unified Housing Foundation, Inc. (Reserve at White Rock Phase II)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncTrailsatWhiteRockMember" id="Foot-00-63">Unified Housing Foundation, Inc. (Timbers of Terrell)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc1Member" id="Foot-00-64">Unified Housing Foundation, Inc. (Tivoli)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc2Member" id="Foot-00-65">Unified Housing Foundation, Inc. (Trails at White Rock)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc4Member" id="Foot-00-66">Unified Housing Foundation, Inc.</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc5Member" id="Foot-00-67">Unified Housing Foundation, Inc.</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc6Member" id="Foot-00-68">Unified Housing Foundation, Inc.</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLimestoneRanc42Member" id="Foot-00-69">Unified Housing Foundation, Inc. (Lakeshore Villas)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member" id="Foot-00-70">Unified Housing Foundation, Inc. (Limestone Ranch)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member" id="Foot-00-71">Unified Housing Foundation, Inc. (Marquis @ Vista Ridge)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member" id="Foot-00-72">Unified Housing Foundation, Inc. (Timbers at the Park)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member" id="Foot-00-73">Unified Housing Foundation, Inc. (Trails at White Rock)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member" id="Foot-00-74">Unified Housing Foundation, Inc. (Bella Vista)</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc7Member" id="Foot-00-75">Unified Housing Foundation, Inc.</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc8Member" id="Foot-00-76">Unified Housing Foundation, Inc.</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_LoansReceivable1Member" id="Foot-00-77">Realty Advisors Management, Inc.</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_us-gaap_LoansReceivableMember">One Realco Corporation</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_OtherRelatedPartyNotesMember" id="Foot-01-2">Other related party notes</arl:DescriptionOfProperty>
    <arl:DescriptionOfProperty contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_OtherNonRelatedPartyNotesMember">Other non-related party notes</arl:DescriptionOfProperty>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_ProspectusEndeavorsFourLLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_ProspectusEndeavorsSixLLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_H198LLCLasVegasLandMemberMember_custom_OulanChikhFamilyTrustMember" unitRef="Pure" decimals="INF">0.0800</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_H198LLCLasVegasLandMemberMember_custom_H198LLCMcKinneyRanchLandMember" unitRef="Pure" decimals="INF">0.0600</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_ForestPinesMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_SpyglassApartmentsofEnnisLPMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_BellwetherRidgeMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_ParcatWindmillFarmsMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_RAIPFBL2018PurchFeeNoteWeatherfordMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_AutumnBreezeMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_PlumTreeMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_InglesideMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_RNCMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_RevolvingLineOfCreditSteepleCrestMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncKensingtonParkMember" unitRef="Pure" id="Foot-00-78" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLakeshoreVillasMember" unitRef="Pure" id="Foot-00-79" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLakeshoreVillas1Member" unitRef="Pure" id="Foot-00-80" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLimestoneRanch1Member" unitRef="Pure" id="Foot-00-81" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLimestoneRanch2Member" unitRef="Pure" id="Foot-00-82" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember" unitRef="Pure" id="Foot-00-83" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember" unitRef="Pure" id="Foot-00-84" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member" unitRef="Pure" id="Foot-00-85" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member" unitRef="Pure" id="Foot-00-86" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncTimbersofTerrellMember" unitRef="Pure" id="Foot-00-87" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncTivoliMember" unitRef="Pure" id="Foot-00-88" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncTrailsatWhiteRockMember" unitRef="Pure" id="Foot-00-89" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc1Member" unitRef="Pure" id="Foot-00-90" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc2Member" unitRef="Pure" id="Foot-00-91" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc4Member" unitRef="Pure" id="Foot-00-92" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc5Member" unitRef="Pure" id="Foot-00-93" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc6Member" unitRef="Pure" id="Foot-00-94" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncLimestoneRanc42Member" unitRef="Pure" id="Foot-00-95" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member" unitRef="Pure" id="Foot-00-96" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member" unitRef="Pure" id="Foot-00-97" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member" unitRef="Pure" id="Foot-00-98" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member" unitRef="Pure" id="Foot-00-99" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member" unitRef="Pure" id="Foot-00-100" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc7Member" unitRef="Pure" id="Foot-00-101" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_UnifiedHousingFoundationInc8Member" unitRef="Pure" id="Foot-00-102" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_PerformingFinancingReceivableMember_custom_LoansReceivable1Member" unitRef="Pure" id="Foot-00-103" decimals="INF">0.0228</srt:MortgageLoansOnRealEstateInterestRate>
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    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_OneRealcoCorporationMember" unitRef="Pure" id="Foot-03-0" decimals="INF">0.0300</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_RealtyAdvisorsManagementIncMember" unitRef="Pure" decimals="INF">0.0228</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncWalnutParkCrossingMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncTrailsAtWhiteRockMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ProspectusEndeavors6LLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
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    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ForestPinesMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
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    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_BellwetherRidgeMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ParcatWindmillFarmsMember" unitRef="Pure" decimals="INF">0.0500</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_RAIPFBL2018PurchFeeNoteWeatherfordMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncEchoStationMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
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    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
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    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc2018AdvisoryFeeMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncMember" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
    <srt:MortgageLoansOnRealEstateInterestRate contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc1Member" unitRef="Pure" decimals="INF">0.1200</srt:MortgageLoansOnRealEstateInterestRate>
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    <arl:MortgageLoansOnRealEstateSecurity contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc7Member">2017 Fees on Sale LSC/SR/PKCR</arl:MortgageLoansOnRealEstateSecurity>
    <arl:MortgageLoansOnRealEstateSecurity contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc8Member">2017 Fees on Profit LSC/SR/PKCR</arl:MortgageLoansOnRealEstateSecurity>
    <arl:MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member" unitRef="Pure" decimals="INF">0.685</arl:MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow>
    <arl:MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member" unitRef="Pure" decimals="INF">0.3150</arl:MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_OneRealcoCorporationMember" id="Foot-03-2">2020-01</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_RealtyAdvisorsManagementIncMember">2022-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncWalnutParkCrossingMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncTrailsAtWhiteRockMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember">2023-01</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ProspectusEndeavors6LLCMember">2022-10</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_OulanChikhFamilyTrustMember">2021-03</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_H198LLCMember">2020-09</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ForestPinesMember">2020-11</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_SpyglassApartmentsofEnnisLPMember">2020-11</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_BellwetherRidgeMember">2020-05</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ParcatWindmillFarmsMember">2020-05</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_RAIPFBL2018PurchFeeNoteWeatherfordMember">2021-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncEchoStationMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncTimbersofTerrellMember">2032-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc2015AdvisoryFeeMember">2021-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc20082014AdvisoryFeeMember">2021-12</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc2018AdvisoryFeeMember">2020-06</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncMember">2022-03</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc1Member">2021-07</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc2Member">2021-07</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc3Member">2021-07</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc4Member">2021-07</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc5Member">2021-07</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc6Member">2021-08</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc7Member">2021-10</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <arl:MortgageLoanOnRealEstateFinalMaturityDate1 contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc8Member">2021-10</arl:MortgageLoanOnRealEstateFinalMaturityDate1>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_OneRealcoCorporationMember" id="Foot-03-3">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_RealtyAdvisorsManagementIncMember">Interest only paid quarterly.</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncWalnutParkCrossingMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncTrailsAtWhiteRockMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ProspectusEndeavors6LLCMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_OulanChikhFamilyTrustMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_H198LLCMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ForestPinesMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_SpyglassApartmentsofEnnisLPMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_BellwetherRidgeMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_ParcatWindmillFarmsMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_RAIPFBL2018PurchFeeNoteWeatherfordMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncEchoStationMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncTimbersofTerrellMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc2015AdvisoryFeeMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc20082014AdvisoryFeeMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc2018AdvisoryFeeMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationIncMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc1Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc2Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc3Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc4Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc5Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc6Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc7Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_UnifiedHousingFoundationInc8Member">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_VariousRelatedPartyNotesMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePeriodicPaymentTerms contextRef="From2019-01-01to2019-12-31_us-gaap_JuniorLoansMember_custom_ProspectusEndeavors4LLCMember_custom_VariousNonRelatedPartyNotesMember">Excess cash flow</srt:MortgageLoansOnRealEstatePeriodicPaymentTerms>
    <srt:MortgageLoansOnRealEstatePriorLiens1 contextRef="AsOf2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncEchoStationMember" unitRef="USD" decimals="-3">9719000</srt:MortgageLoansOnRealEstatePriorLiens1>
    <srt:MortgageLoansOnRealEstatePriorLiens1 contextRef="AsOf2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember" unitRef="USD" decimals="-3">15965000</srt:MortgageLoansOnRealEstatePriorLiens1>
    <srt:MortgageLoansOnRealEstatePriorLiens1 contextRef="AsOf2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member" unitRef="USD" decimals="-3">15756000</srt:MortgageLoansOnRealEstatePriorLiens1>
    <srt:MortgageLoansOnRealEstatePriorLiens1 contextRef="AsOf2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember" unitRef="USD" decimals="-3">22227000</srt:MortgageLoansOnRealEstatePriorLiens1>
    <srt:MortgageLoansOnRealEstatePriorLiens1 contextRef="AsOf2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember" unitRef="USD" decimals="-3">18723000</srt:MortgageLoansOnRealEstatePriorLiens1>
    <srt:MortgageLoansOnRealEstatePriorLiens1 contextRef="AsOf2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncTimbersofTerrellMember" unitRef="USD" decimals="-3">7294000</srt:MortgageLoansOnRealEstatePriorLiens1>
    <srt:MortgageLoansOnRealEstatePriorLiens1 contextRef="AsOf2019-12-31_us-gaap_JuniorLoansMember_custom_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member" unitRef="USD" decimals="-3">15965000</srt:MortgageLoansOnRealEstatePriorLiens1>
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    <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock contextRef="From2019-01-01to2019-12-31">&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin: 0px"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60pt"&gt;&lt;b&gt;NOTE 1.&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;&lt;b&gt;&lt;i&gt;ORGANIZATION&#13;    AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES&lt;/i&gt;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Organization&#13;and business.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company, a Nevada corporation that was formed in 1999, is headquartered in Dallas, Texas and its common stock trades on the New&#13;York Stock Exchange (&amp;#8220;NYSE American&amp;#8221;) under the symbol &amp;#8220;ARL&amp;#8221;. Over 80% of ARL&amp;#8217;s stock is owned by&#13;related party entities. ARL and a subsidiary own approximately 78.38% of the outstanding shares of common stock of Transcontinental&#13;Realty Investors, Inc. &amp;#8220;TCI&amp;#8221;, a Nevada corporation, whose common stock is traded on the NYSE American under the symbol&#13;&amp;#8220;TCI&amp;#8221;.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;TCI,&#13;a subsidiary of ARL, owns approximately 81.23% of the common stock of Income Opportunity Realty Investors, Inc. &amp;#8220;IOR&amp;#8221;.&#13;Effective July 17, 2009, IOR&amp;#8217;s financial results were consolidated with those of ARL and TCI and their subsidiaries. IOR&amp;#8217;s&#13;common stock is traded on the New York Stock Exchange (&amp;#8220;NYSE American&amp;#8221;) under the symbol &amp;#8220;IOR&amp;#8221;.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;ARL&amp;#8217;s&#13;Board of Directors are responsible for directing the overall affairs of ARL and for setting the strategic policies that guide&#13;the Company. As of April 30, 2011, the Board of Directors delegated the day-to-day management of the Company to Pillar Income&#13;Asset Management, Inc. (&amp;#8220;Pillar&amp;#8221;), a Nevada corporation, under a written Advisory Agreement that is reviewed annually&#13;by ARL&amp;#8217;s Board of Directors. The directors of ARL are also directors of TCI and IOR. The Chairman of the Board of Directors&#13;of ARL also serves as the Chairman of the Board of Directors of TCI and IOR. The officers of ARL also serve as officers of TCI,&#13;IOR and Pillar.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Since&#13;April 30, 2011, Pillar, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member&#13;of which is Realty Advisors, Inc. &amp;#8220;RAI&amp;#8221;, a Nevada corporation, the sole shareholder of which is May Realty Holdings,&#13;Inc. (&amp;#8220;MRHI&amp;#8221;, formerly known as Realty Advisors Management, Inc. &amp;#8220;RAMI&amp;#8221;, effective August 7, 2014), a&#13;Nevada corporation, the sole shareholder of which is a trust known as the May Trust, became the Company&amp;#8217;s external Advisor&#13;and Cash Manager.&amp;#160; Pillar&amp;#8217;s duties include, but are not limited to, locating, evaluating and recommending real estate&#13;and real estate-related investment opportunities. Pillar also arranges, for the Company&amp;#8217;s benefit, debt and equity financing&#13;with third party lenders and investors. Pillar also serves as an Advisor and Cash Manager to TCI and IOR.&amp;#160; As the contractual&#13;advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&amp;#160;10. &amp;#8220;Directors,&#13;Executive Officers and Corporate Governance &amp;#8211; The Advisor&amp;#8221;.&amp;#160; ARL has no employees. Employees of Pillar render&#13;services to ARL in accordance with the terms of the Advisory Agreement.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Regis&#13;Realty Prime, LLC, dba Regis Property Management, LLC (&amp;#8220;Regis&amp;#8221;), the sole member of which is Realty Advisors, LLC,&#13;manages our commercial and provides brokerage services. Regis receives property management fees and leasing commissions in accordance&#13;with the terms of its property-level management agreement. Regis is also entitled to receive real estate brokerage commissions&#13;in accordance with the terms of a non-exclusive brokerage agreement. See Part III, Item&amp;#160;10. &amp;#8220;Directors, Executive Officers&#13;and Corporate Governance &amp;#8211; Property Management and Real Estate Brokerage&amp;#8221;. ARL engages third-party companies to lease&#13;and manage its apartment properties.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;January 1, 2012, the Company&amp;#8217;s subsidiary, TCI, entered into a development agreement with Unified Housing Foundation, Inc.&#13;&amp;#8220;UHF&amp;#8221; a non-profit corporation that provides management services for the development of residential apartment projects&#13;in the future. This development agreement was terminated December 31, 2013. The Company has also invested in surplus cash notes&#13;receivables from UHF and has sold several residential apartment properties to UHF in prior years. Due to this ongoing relationship&#13;and the significant investment in the performance of the collateral secured under the notes receivable, UHF has been determined&#13;to be a related party.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Southern&#13;Properties Capital Ltd. a British Virgin Island corporation (&amp;#8220;Southern&amp;#8221; or &amp;#8220;SPC&amp;#8221;), is a wholly owned subsidiary&#13;of TCI that was incorporated on August 16, 2016 for the purpose of raising funds by issuing debentures that cannot be converted&#13;into shares on the Tel-Aviv Stock Exchange (&amp;#8220;TASE&amp;#8221;). Southern operates in the United States and is primarily involved&#13;in investing in, developing, constructing and operating income-producing properties of multi-family residential real estate assets.&#13;Southern is included in the consolidated financial statements of TCI.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;November 19, 2018, we executed an agreement between the Macquarie Group (&amp;#8220;Macquarie&amp;#8221;) and Southern and TCI to create&#13;a joint venture, Victory Abode Apartments, LLC (&amp;#8220;VAA&amp;#8221;) to address existing and future demand for quality multifamily&#13;residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary&#13;markets. In connection with the formation of the joint venture, Southern and TCI contributed a portfolio of 49 income producing&#13;apartment complexes, and 3 development projects in various stages of construction and received cash consideration of $236.8 million.&#13;At the time of the transfer of the properties, the joint venture assumed all liabilities of those properties, including mortgage&#13;debt to the Department of Housing and Urban Development (&amp;#8220;HUD&amp;#8221;).&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;VAA&#13;is equally owned and controlled by Abode JVP, LLC, a wholly-owned subsidiary of SPC and Summerset Intermediate Holdings 2 LLC&#13;(&amp;#8220;Summerset&amp;#8221;), a wholly-owned indirect subsidiary of Macquarie.&amp;#160; Pursuant to the Agreement, Abode JVP, LLC and&#13;Summerset each own voting and profit participation rights of 50% and 49%, respectively (&amp;#8220;Class A Members&amp;#8221;).&amp;#160;&#13;The remaining 2% of the profits interest is held by Daniel J. Moos, who serves as the President and Chief Executive officer of&#13;the Company (&amp;#8220;Class B Member&amp;#8221;) and Manager of the joint venture.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Our primary business is the acquisition, development and ownership of income-producing residential and commercial real estate properties. In addition, we opportunistically acquire land for future development in in-fill or high-growth suburban markets. From time to time and when we believe it appropriate to do so, we will also sell land and income-producing properties. We generate revenues by leasing apartment units to residents, and leasing office and retail space to various for-profit businesses as well as certain local, state and federal agencies. We also generate revenues from gains on sales of income-producing properties and land. At December 31, 2019, we owned through our wholly owned subsidiaries ten residential apartment communities comprising of 1,657 units, seven commercial properties comprising an aggregate of approximately 1.7 million rentable square feet, and an investment in 1,951 acres of undeveloped and partially developed land. In addition, our joint venture VAA owns&amp;#160;fifty-one&amp;#160;residential apartment communities comprised of 9,888 units.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Basis&#13;of presentation.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;The Company presents its financial statements in accordance with generally&#13;accepted accounting principles in the United States (&amp;#8220;GAAP&amp;#8221;). The accompanying Consolidated Financial Statements include&#13;our accounts, our subsidiaries, generally all of which are wholly-owned, and all entities in which we have a controlling interest.&#13;Arrangements that are not controlled through voting or similar rights are accounted for as a Variable Interest Entity (VIE), in&#13;accordance with the provisions and guidance of ASC Topic 810 &amp;#8220;Consolidation&amp;#8221;, whereby we have determined that we are&#13;a primary beneficiary of the VIE and meet certain criteria of a sole general partner or managing member as identified in accordance&#13;with Emerging Issues Task Force (&amp;#8220;EITF&amp;#8221;) Issue 04-5, Investor&amp;#8217;s Accounting for an Investment in a Limited Partnership&#13;when the Investor is the Sole General Partner and the Limited Partners have Certain Rights (&amp;#8220;EITF 04-5&amp;#8221;). VIEs are&#13;generally entities that lack sufficient equity to finance their activities without additional financial support from other parties&#13;or whose equity holders as a group lack adequate decision making ability, the obligation to absorb expected losses or residual&#13;returns of the entity, or have voting rights that are not proportional to their economic interests. The primary beneficiary generally&#13;is the entity that provides financial support and bears a majority of the financial risks, authorizes certain capital transactions,&#13;or makes operating decisions that materially affect the entity&amp;#8217;s financial results. All significant intercompany balances&#13;and transactions have been eliminated in consolidation.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including, but&#13;not limited to: the amount and characteristics of our investment; the obligation or likelihood for us or other investors to provide&#13;financial support; our and the other investors&amp;#8217; ability to control or significantly influence key decisions for the VIE;&#13;and the similarity with and significance to the business activities of us and the other investors. Significant judgments related&#13;to these determinations include estimates about the current future fair values and performance of real estate held by these VIEs&#13;and general market conditions.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;For&#13;entities in which we have less than a controlling financial interest or entities where it is not deemed to be the primary beneficiary,&#13;the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of&#13;these entities is included in consolidated net income. Our investment in Gruppa Florentina, LLC is accounted for under the equity&#13;method.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company in accordance with the VIE guidance in ASC 810 &amp;#8220;Consolidations&amp;#8221; consolidates ten multifamily residential properties&#13;at December 31, 2019 and&amp;#160;nine at December 31, 2018, located throughout the United States ranging from 1,657 units to 1,489&#13;units.&amp;#160; Assets totaling approximately $478&amp;#160;million and approximately $464 million at December 31, 2019 and 2018, respectively,&amp;#160;are&#13;consolidated and included in &amp;#8220;Real estate, at cost&amp;#8221; on the balance sheet and are all collateral for their respective&#13;mortgage notes payable, none of which are recourse to the partnership in which they are in or to the Company.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Real&#13;estate, depreciation, and impairment&lt;/i&gt;.&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Real estate assets are stated at the lower of depreciated&#13;cost or fair value, if deemed impaired. Major replacements and betterments are capitalized and depreciated over their estimated&#13;useful lives. Depreciation is computed on a straight-line basis over the useful lives of the properties (buildings and improvements&amp;#8212;10-40&#13;years; furniture, fixtures and equipment&amp;#8212;5-10 years). We continually evaluate the recoverability of the carrying value of&#13;its real estate assets using the methodology prescribed in ASC Topic 360, &amp;#8220;Property, Plant and Equipment,&amp;#8221; Factors&#13;considered by management in evaluating impairment of its existing real estate assets held for investment include significant declines&#13;in property operating profits, annually recurring property operating losses and other significant adverse changes in general market&#13;conditions that are considered permanent in nature. Under ASC Topic 360, a real estate asset held for investment is not considered&#13;impaired if the undiscounted, estimated future cash flows of an asset (both the annual estimated cash flow from future operations&#13;and the estimated cash flow from the theoretical sale of the asset) over its estimated holding period are in excess of the asset&amp;#8217;s&#13;net book value at the balance sheet date. If any real estate asset held for investment is considered impaired, a loss is provided&#13;to reduce the carrying value of the asset to its estimated fair value.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Any&#13;properties that are treated as &amp;#8220;subject to sales contract&amp;#8221; on the Consolidated Balance Sheets and are listed in detail&#13;in Schedule III, &amp;#8220;Real Estate and Accumulated Depreciation&amp;#8221; are those in which we have not recognized the legal sale&#13;according to the guidance in ASC 360-20 due to various factors, disclosed in each sale transaction under Item 1 Significant Real&#13;Estate Acquisitions/Dispositions and Financing. Any sale transaction where the guidance reflects that a sale had not occurred,&#13;the asset involved in the transaction, including the debt and property operations, remained on the books of the Company. We continue&#13;to charge depreciation to expense as a period costs for the property until such time as the property has been classified as held&#13;for sale in accordance with guidance reflected in ASC 360-10-45 &amp;#8220;Impairment or Disposal of Long-Lived Assets&amp;#8221;.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Real&#13;estate held for sale&lt;/i&gt;.&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;We classify properties as held for sale when certain criteria are met in accordance&#13;with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance&#13;sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported&#13;at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. We did not have any real estate&#13;assets classified as held for sale at December 31, 2019 or 2018.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Effective&#13;as of January 1, 2015, we adopted the revised guidance in Accounting Standards Update No.&amp;#160;2014-08 regarding discontinued&#13;operations. For sales of real estate or assets classified as held for sale after January 1, 2015, we will evaluate whether a disposal&#13;transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine&#13;if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued&#13;operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as&#13;discontinued operations for all periods presented; if not, it will be presented in continuing operations.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Any&#13;properties that are treated as &amp;#8220;subject to sales contract&amp;#8221; on the Consolidated Balance Sheets and are listed in detail&#13;in Schedule III, &amp;#8220;Real Estate and Accumulated Depreciation&amp;#8221; are those in which we have not recognized the legal sale&#13;according to the guidance in ASC 360-20 due to various factors, disclosed in Item 1 &amp;#8220;Significant Real Estate Acquisitions/Dispositions&#13;and Financing.&amp;#8221; Any sale transaction where the guidance reflects that a sale had not occurred, the asset involved in the&#13;transaction, including the debt, if appropriate, and property operations, remained on the books of the Company. We continue to&#13;charge depreciation to expense as a period costs for the property until such time as the property has been classified as held&#13;for sale in accordance with guidance reflected in ASC 360-10-45 &amp;#8220;Impairment or Disposal of Long-Lived Assets.&amp;#8221;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Cost&#13;capitalization&lt;/i&gt;.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; The cost of buildings and improvements includes the purchase price of property,&#13;legal fees and other acquisition costs. Costs directly related to planning, developing, initial leasing and constructing a property&#13;are capitalized and classified as Real Estate in the Consolidated Balance Sheets. Capitalized development costs include interest,&#13;property taxes, insurance, and other direct project costs incurred during the period of development.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A&#13;variety of costs are incurred in the acquisition, development and leasing of properties. After determination is made to capitalize&#13;a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project&#13;is substantially complete and capitalization must cease involves a degree of judgment. Our capitalization policy on development&#13;properties is guided by ASC Topic 835-20 &amp;#8220;Interest &amp;#8211; Capitalization of Interest&amp;#8221; and ASC Topic 970 &amp;#8220;Real&#13;Estate - General&amp;#8221;. The costs of land and buildings under development include specifically identifiable costs. The capitalized&#13;costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest&#13;costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a&#13;construction project as substantially completed and held available for occupancy upon the receipt of certificates of occupancy,&#13;but no later than one year from cessation of major construction activity. We cease capitalization on the portion (1)&amp;#160;substantially&#13;completed and (2)&amp;#160;occupied or held available for occupancy, and we capitalize only those costs associated with the portion&#13;under construction.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;We&#13;capitalize leasing costs which include commissions paid to outside brokers, legal costs incurred to negotiate and document a lease&#13;agreement and any internal costs that may be applicable. We allocate these costs to individual tenant leases and amortize them&#13;over the related lease term.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Fair&#13;value measurement&lt;/i&gt;&lt;/b&gt;&lt;i&gt;.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;We apply the guidance in ASC Topic 820, &amp;#8220;Fair Value Measurements&#13;and Disclosures,&amp;#8221; to the valuation of real estate assets. These provisions define fair value as the price that would be&#13;received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date,&#13;establish a hierarchy that prioritizes the information used in developing fair value estimates and require disclosure of fair&#13;value measurements by level within the fair value hierarchy. The hierarchy gives the highest priority to quoted prices in active&#13;markets (Level 1 measurements) and the lowest priority to unobservable data (Level 3 measurements), such as the reporting entity&amp;#8217;s&#13;own data.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date&#13;and includes three levels defined as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 6%; white-space: nowrap"&gt;Level&amp;#160;1&lt;/td&gt;&#13;    &lt;td style="width: 2%; white-space: nowrap"&gt;&amp;#160;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="width: 92%; text-align: justify"&gt;Unadjusted&#13;    quoted prices for identical and unrestricted assets or liabilities in active markets.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="white-space: nowrap"&gt;Level&amp;#160;2&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap"&gt;&amp;#160;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Quoted prices for&#13;    similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly&#13;    or indirectly, for substantially the full term of the financial instrument.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="white-space: nowrap"&gt;Level&amp;#160;3&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap"&gt;&amp;#160;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Unobservable inputs&#13;    that are significant to the fair value measurement.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A&#13;financial instrument&amp;#8217;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant&#13;to the fair value measurement.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Related&#13;parties&lt;/i&gt;.&amp;#160;&amp;#160;&lt;/b&gt;We apply ASC Topic 805, &amp;#8220;Business Combinations&amp;#8221;, to evaluate business relationships. Related&#13;parties are persons or entities who have one or more of the following characteristics, which include entities for which investments&#13;in their equity securities would be required, trust for the benefit of persons including principal owners of the entities and&#13;members of their immediate families, management personnel of the entity and members of their immediate families and other parties&#13;with which the entity may deal if one party controls or can significantly influence the decision making of the other to an extent&#13;that one of the transacting parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Recognition&#13;of revenue.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Our revenues, which are composed largely of rental income, include rents reported&#13;on a straight-line basis over the lease term. In accordance with ASC 805 &amp;#8220;Business Combinations&amp;#8221;, we recognize rental&#13;revenue of acquired in-place &amp;#8220;above-&amp;#8221; and &amp;#8220;below-market&amp;#8221; leases at their fair values over the terms of&#13;the respective leases.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Reimbursements&#13;of operating costs, as allowed under most of our commercial tenant leases, consist of amounts due from tenants for common area&#13;maintenance, real estate taxes and other recoverable costs, and are recognized as revenue in the period in which the recoverable&#13;expenses are incurred. We record these reimbursements on a &amp;#8220;gross&amp;#8221; basis, since we generally are the primary obligor&#13;with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier and have the&#13;credit risk with respect to paying the supplier.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Rental&#13;income for residential property leases is recorded when due from residents and is recognized monthly as earned, which is not materially&#13;different than on a straight-line basis as lease terms are generally for periods of one year or less. For hotel properties, revenues&#13;for room sales and guest services are recognized as rooms occupied and services rendered. An allowance for doubtful accounts is&#13;recorded for all past due rents and operating expense reimbursements considered to be uncollectible.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Sales&#13;and the associated gains or losses of real estate assets are recognized in accordance with the provisions of ASC Topic 360-20,&#13;&amp;#8220;Property, Plant and Equipment &amp;#8211; Real Estate Sale&amp;#8221;. The specific timing of a sale is measured against various&#13;criteria in ASC 360-20 related to the terms of the transaction and any continuing involvement in the form of management or financial&#13;assistance associated with the properties. If the sales criteria for the full accrual method are not met, the Company defers some&#13;or all of the gain recognition and accounts for the continued operations of the property by applying the finance, leasing, deposit,&#13;installment or cost recovery methods, as appropriate, until the sales criteria are met.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Foreign&#13;currency translation.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Foreign currency denominated assets and liabilities of subsidiaries with&#13;local functional currencies are translated to United States dollars at year-end exchange rates. The effects of translation are&#13;recorded in the cumulative translation component of shareholders&amp;#8217; equity. Subsidiaries with a United States dollar functional&#13;currency re-measure monetary assets and liabilities at year-end exchange rates and non-monetary assets and liabilities at historical&#13;exchange rates. The effects of re-measurement are included in income. Exchange gains and losses arising from transactions denominated&#13;in foreign currencies are translated at average exchange rates.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Non-performing&#13;notes receivable.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;ARL considers a note receivable to be non-performing when the maturity date has passed&#13;without principal repayment and the borrower is not making interest payments in accordance with the terms of the agreement.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Interest&#13;recognition on notes receivable.&amp;#160;&amp;#160;&lt;/i&gt;&lt;/b&gt;We record interest income as earned in accordance with the terms of the related&#13;loan agreements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Allowance&#13;for estimated losses.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;We assess the collectability of notes receivable on a periodic basis, of which&#13;the assessment consists primarily of an evaluation of cash flow projections of the borrower to determine whether estimated cash&#13;flows are sufficient to repay principal and interest in accordance with the contractual terms of the note. We recognize impairments&#13;on notes receivable when it is probable that principal and interest will not be received in accordance with the contractual terms&#13;of the loan. The amount of the impairment to be recognized generally is based on the fair value of the partnership&amp;#8217;s real&#13;estate that represents the primary source of loan repayment. See Note 5 &amp;#8220;Notes and Interest Receivable&amp;#8221; for details&#13;on our notes receivable.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Cash&#13;equivalents.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;For purposes of the Consolidated Statements of Cash Flows, all highly liquid investments&#13;purchased with an original maturity of three months or less are considered to be cash equivalents.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Restricted&#13;cash.&amp;#160;&amp;#160;&lt;/i&gt;&lt;/b&gt;Restricted cash is comprised primarily of cash balances held in escrow by financial institutions under&#13;the terms of certain secured notes payable and certain unsecured bonds payable.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Concentration&#13;of credit risk.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;The Company maintains its cash balances at commercial banks and through investment companies,&#13;the deposits of which are insured by the Federal Deposit Insurance Corporation (FDIC). At December 31, 2019 and 2018, the Company&#13;maintained balances in excess of the insured amount.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Earnings&#13;per share.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Income (loss) per share is presented in accordance with ASC 620 &amp;#8220;Earnings per&#13;Share&amp;#8221;. Income (loss) per share is computed based upon the weighted average number of shares of common stock outstanding&#13;during each year.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Use&#13;of estimates.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;In the preparation of Consolidated Financial Statements in conformity with&#13;GAAP, it is necessary for management to make estimates and assumptions that affect the reported amounts of assets and liabilities&#13;and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts&#13;of revenues and expense for the year ended. Actual results could differ from those estimates.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Income&#13;taxes.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;The Company is a &amp;#8220;C&amp;#8221; corporation for U.S. federal income tax purposes. For&#13;tax periods ending before August 31, 2012, the Company filed an annual consolidated income tax return with TCI and IOR and their&#13;subsidiaries. ARL was the common parent for the consolidated group. After that date, the Company and the rest of the ARL group&#13;joined the MRHI consolidated group for tax purposes. The income tax expense (benefit) for the 2012 tax period in the accompanying&#13;financial statement was calculated under a tax sharing and compensating agreement between ARL, TCI and IOR. That agreement continued&#13;until August 31, 2012, at which time a new tax sharing and compensating agreement was entered into by ARL, TCI, IOR and MRHI for&#13;the remainder of 2012 and subsequent years. The agreement specifies the manner in which the group will share the consolidated&#13;tax liability and also how certain tax attributes are to be treated among members of the group.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Recent&#13;accounting pronouncements&lt;/i&gt;&lt;/b&gt;&lt;i&gt;.&lt;/i&gt;&amp;#160;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"&gt;In&#13;December 2019, the FASB issued ASU 2019-12,&amp;#160;&lt;i&gt;Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.&amp;#160;&lt;/i&gt;The&#13;amendments in this Update simplify the accounting for income taxes by removing certain exceptions from ASC 740. Also, the amendments&#13;in this Update simplify the accounting for income taxes by requiring that an entity recognize a franchise tax (or similar tax)&#13;that is partially based on income as an income-based tax, requiring that an entity evaluate when a step up in the tax basis of&#13;goodwill should be considered part of the business combination, and other targeted changes. The effective date of the amendments&#13;is for fiscal years, and interim periods within those years, beginning after December 15, 2020. The Company is currently evaluating&#13;the impact that the adoption of ASU 2019-12 may have on its consolidated financial statements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"&gt;In&#13;October 2018, the FASB issued ASU 2018-17,&amp;#160;&lt;i&gt;Consolidation (Topic 810): Targeted Improvements to Related Party Guidance&#13;for Variable Interest Entities&lt;/i&gt;. This standard is intended to improve the accounting when considering indirect interests held&#13;through related parties under common control for determining whether fees paid to decision makers and service providers are variable&#13;interests. The effective date of the amendments is for fiscal years, and interim periods within those years, beginning after December&#13;15, 2019. The new standard must be adopted retrospectively with early adoption permitted. The Company does not expect the adoption&#13;of this ASU to have a material impact on its consolidated financial statements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;August 2018, the FASB issued ASU 2018-13,&amp;#160;&lt;i&gt;Fair Value Measurement (Topic 820): Disclosure Framework&amp;#8212;Changes to the&#13;Disclosure Requirements for Fair Value Measurement&amp;#160;&lt;/i&gt;that eliminates, adds and modifies certain disclosure requirements&#13;for fair value measurements. The effective date of the standard is for fiscal periods, and interim periods within those years,&#13;beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of&#13;significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement&#13;uncertainty should be applied prospectively. All other amendments should be applied retrospectively. Early adoption is permitted.&#13;The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard amends the existing lease accounting guidance&#13;and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that&#13;have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar&#13;to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods,&#13;but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required&#13;to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable&#13;period presented, with an option to elect certain transition relief. ASU 2016-02 was effective for reporting periods beginning&#13;after December 15, 2018. The adoption of ASU 2016-02 did not have a material impact on the Company&amp;#8217;s financial position&#13;and results of operations.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;In&#13;May 2014, Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) No. 2014-09 (&amp;#8220;ASU 2014-09&amp;#8221;), &amp;#8220;Revenue from Contracts&#13;with Customers,&amp;#8221; was issued. This new guidance established a new single comprehensive revenue recognition model and provides&#13;for enhanced disclosures. Under the new policy, the nature, timing and amount of revenue recognized for certain transactions could&#13;differ from those recognized under existing accounting guidance. This new standard does not affect revenue recognized under lease&#13;contracts. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017. As the majority of the Company&amp;#8217;s&#13;revenue is from rental revenue related to leases, the Company has determined that the adoption of this Standard was immaterial&#13;to the consolidated financial statements and related disclosures.&lt;/p&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock>
    <us-gaap:RealEstateDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin: 0px"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60pt"&gt;&lt;b&gt;NOTE 3.&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&lt;i&gt;REAL ESTATE&lt;/i&gt;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;At&#13;December 31, 2019 and 2018, ARL&amp;#8217;s real estate investment is comprised of the following (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 70%; vertical-align: bottom; white-space: nowrap"&gt;Apartments&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;156,173&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;126,274&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Apartments&#13;    under construction&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;22,363&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;21,916&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Commercial&#13;    properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;229,424&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;224,162&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Land&#13;    held for development&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;62,037&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;83,641&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Real&#13;    estate subject to sales contract&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;7,966&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,149&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&#13;    real estate, at cost, less impairment&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;477,963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;459,142&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Less&#13;    accumulated deprecation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(90,173&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(78,099&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&#13;    real estate, net of depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;387,790&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;381,043&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Expenditures&#13;for repairs and maintenance are charged to operations as incurred. Significant betterments are capitalized. When assets are sold&#13;or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses&#13;reflected in net income or loss for the period.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Depreciation&#13;is computed on a straight line basis over the estimated useful lives of the assets as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin: 0px 0px 0px 0.5in"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 50%; text-align: left; text-indent: 0px"&gt;Land&#13;    improvements&lt;/td&gt;&#13;    &lt;td style="width: 50%; text-align: left; text-indent: 0px"&gt;25&#13;    to 40 years&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Buildings&#13;    and improvements&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;10&#13;    to 40 years&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Tenant&#13;    improvements&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Shorter&#13;    of useful life or terms of related lease&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Furniture,&#13;    fixtures and equipment&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;3&#13;    to 7 years&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Fair&#13;Value Measurement&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company applies the guidance in ASC Topic 820, &amp;#8220;Fair Value Measurements and Disclosures,&amp;#8221; to the valuation of real&#13;estate assets.&amp;#160;The Company is required to assess the fair value of its consolidated real estate assets with indicators of&#13;impairment. The value of impaired real estate assets is determined using widely accepted valuation techniques, including discounted&#13;cash flow analyses on the expected cash flow of each asset, as well as the income capitalization approach, which considers prevailing&#13;market capitalization rates, analyses of recent comparable sales transactions, information from actual sales negotiations and&#13;bona fide purchase offers received from third parties. The methods used to measure fair value may produce an amount that may not&#13;be indicative of net realizable value or reflective of future values. Furthermore, although the Company believes its valuation&#13;methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine&#13;the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #252525"&gt;The&#13;fair value measurements used in these evaluations are considered to be Level 2 and 3 valuations within the fair value hierarchy&#13;in the accounting rules, as there are significant observable (Level 2) and unobservable inputs (Level 3). Examples of Level 2&#13;inputs the Company utilizes in its fair value calculations are appraisals and bona fide purchase offers from third parties. Examples&#13;of Level 3 inputs the Company utilizes in its fair value calculations are discount rates, market capitalization rates, expected&#13;lease rental rates, timing of new leases, an estimate of future sales prices and comparable sales prices of similar assets, if&#13;available.&amp;#160;There was no provision for impairment during the years ended December 31, 2019, 2018 and 2017.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;following is a description of the Company&amp;#8217;s significant real estate transactions for the year ended December 31, 2019:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Sold 35.9 acres&#13;    of land located in Farmers Branch, Texas for an aggregate sales price of $18.9 million and recognized a gain on the sale of&#13;    $9.0 million.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Sold 29.4 acres&#13;    of land located in Forney, Texas for a total sales price of $5.0 million and recognized a gain on the sale of approximately&#13;    $4.1 million.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Sold 10.33 acres&#13;    of land located in Dallas, Texas for a total sales price of $2.1 million and recognized a gain on the sale of approximately&#13;    $0.4 million.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Sold 6.25 acres&#13;    of land located in Nashville, Tennessee for a total sales price of $2.3 million and recognized a gain on the sale of approximately&#13;    $0.9 million.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Sold 23.24 acres&#13;    of land located in Fort Worth, Texas for a total sales price of $1.8 million and recognized a gain on the sale of approximately&#13;    $0.5 million.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Sold a multifamily&#13;    residential property, located in Mary Ester, Florida for a total sales price of $3.1 million out of which $1.8 million represents&#13;    land received with a total acreage of 1.27 acres located in Riverside, California in exchange for a note receivable of the&#13;    same value. The Company recognized a loss from this sale of approximately $0.08 million.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Purchased 33.05&#13;    acres of land in Athens, Alabama for a total purchase price of $2.1 million, out of which $0.9 million was paid in cash and&#13;    the remaining balance of $1.2 million was issued as a note payable. The note payable matures in eighteen months and bears&#13;    an annual interest rate of 5.91%.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Purchased from a&#13;    third party 8.94 acres of land located in Collin County, Texas for a total purchase price of $2.5 million.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 18pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 18pt; text-align: justify"&gt;&amp;#9679;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Purchased an option&#13;    to buy 37.8 acres of land (6.3 acres located in Collin County, Texas and 31.5 acres located in Clark County, Nevada) for $2.0&#13;    million from a third party land developer.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company continues to invest in the development of apartment projects. During the year ended December 31, 2019, ARL through its&#13;subsidiaries have invested $28.5 million related to the construction and development of various apartment complexes and capitalized&#13;$0.8 million of interest costs.&lt;/p&gt;</us-gaap:RealEstateDisclosureTextBlock>
    <us-gaap:CashFlowSupplementalDisclosuresTextBlock contextRef="From2019-01-01to2019-12-31">&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60pt"&gt;&lt;b&gt;NOTE 4.&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;&lt;b&gt;&lt;i&gt;SUPPLEMENTAL&#13;    CASH FLOW INFORMATION&lt;/i&gt;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;For&#13;the years ended December 31, 2019 and 2018, the Company paid interest expense&amp;#160;of approximately $38.9 million and $59.7 million,&#13;respectively.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Cash&#13;and cash equivalents, and restricted cash for fiscal year ended 2019 and 2018&amp;#160;was $83.3&amp;#160;million and $106.6 million,&#13;respectively. The following is a reconciliation of the Company&amp;#8217;s cash and cash equivalents, and restricted cash to the total&#13;presented in the consolidated statement of cash flows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 70%; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Cash&#13;    and cash equivalents&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;51,228&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;36,428&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Restricted&#13;    cash (cash held in escrow)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;15,540&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;37,928&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Restricted&#13;    cash (certificate of deposits)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,759&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;9,687&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Restricted&#13;    cash (held with Trustee)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12,784&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;22,572&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 0.25in"&gt;Total&#13;    cash, cash equivalents and restricted cash&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;83,311&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;106,615&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Amounts&#13;included in restricted cash represent funds required to meet contractual obligations with certain financial institutions for the&#13;payment of reserve replacement deposits and tax and insurance escrow. In addition, restricted cash includes funds to the Bond&amp;#8217;s&#13;Trustee for payment of principal and interests.&lt;/p&gt;</us-gaap:CashFlowSupplementalDisclosuresTextBlock>
    <us-gaap:FinancingReceivablesTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;NOTE&#13;5.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; NOTES AND INTEREST RECEIVABLE&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A&#13;portion of our assets are invested in mortgage notes receivable, principally secured by real estate. We may originate mortgage&#13;loans in conjunction with providing purchase money financing of property sales. Notes receivable are generally collateralized&#13;by real estate or interests in real estate and personal guarantees of the borrower and, unless noted otherwise, are so secured.&#13;Management intends to service and hold for investment the mortgage notes in our portfolio. A majority of the notes receivable&#13;provide for principal to be paid at maturity (dollars in thousands).&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&lt;b&gt;Maturity&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&lt;b&gt;Interest&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Borrower&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Date&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Rate&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Amount&#13;    &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Security&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 42%; vertical-align: bottom; white-space: nowrap"&gt;Performing&#13;    loans:&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 17%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Prospectus&#13;    Endeavors 4, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;01/23&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Prospectus&#13;    Endeavors 6, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/22&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;496&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Oulan-Chikh&#13;    Family Trust&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;03/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;8.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;174&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;H198,&#13;    LLC (McKinney Ranch Land)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;09/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;4,554&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Forest&#13;    Pines&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13; 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white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Spyglass&#13;    Apartments of Ennis, LP&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;11/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5,288&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Bellwether&#13;    Ridge&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;05/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,765&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Parc&#13;    at Windmill Farms&lt;/td&gt;&#13; 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   &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,302&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Plum&#13;    Tree&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;413&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Ingleside&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,531&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;RNC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;09/24&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;8,802&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Revolving&#13;    Line of Credit Steeple Crest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6,665&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;RAI&#13;    PFBL 2018 Purch Fee Note Weatherford&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;525&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Echo Station) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,481&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Inwood on the Park) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,639&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Kensington Park) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,933&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6,369&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2,732&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,953&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;4,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Reserve at White Rock Phase I) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Reserve at White Rock Phase II) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Timbers of Terrell) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,323&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Tivoli) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Trails at White Rock) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,815&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;10,401&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;06/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5,314&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;03/22&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;4,782&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;838&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;773&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Marquis at Vista Ridge) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;839&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Timbers at the Park) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;432&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Trails at White Rock) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;913&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Bella Vista) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;08/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;212&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6,831&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;497&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Realty&#13;    Advisors Management, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/22&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2.28&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;20,387&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;One&#13;    Realco Corporation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;01/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;7,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Other&#13;    related party notes &lt;sub&gt;(1) (2)&lt;/sub&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,553&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Various&#13;    secured interests&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Other&#13;    non-related party notes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;10,276&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Various&#13;    secured interests&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Accrued&#13;    interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;13,114&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;&lt;b&gt;Total&#13;    Performing&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;169,299&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Allowance&#13;    for estimated losses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;(13,099&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;&lt;b&gt;Total&#13;    &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 2pt double; text-align: right"&gt;&lt;b&gt;156,200&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td style="width: 98%; text-align: justify"&gt;Related&#13;    party notes.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;An allowance was&#13;    taken for estimated losses at full value of note.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;As&#13;of December 31, 2019, the obligors on approximately $103.5 million of the mortgage notes receivable portfolio were due from related&#13;parties. The Company recognized $11.0 million of interest income from these related party notes receivables. In addition, during&#13;the quarter ended June 30, 2019, our subsidiary TCI purchased notes receivables with a face value of $29.0 million (out of which&#13;$1.0 million represented accrued interest receivables) from related parties.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;As&#13;of December 31, 2019 none of the mortgage notes receivable portfolio were non-performing.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company has various notes receivable from Unified Housing Foundation, Inc. &amp;#8220;UHF&amp;#8221;. UHF is determined to be a related&#13;party due to our significant investment in the performance of the collateral secured under the notes receivable. Payments are&#13;due from surplus cash flow from operations, sale or refinancing of the underlying properties. These notes are cross collateralized&#13;to the extent that any surplus cash available from any of the properties underlying these notes will be used to repay outstanding&#13;interest and principal for the remaining notes. Furthermore, any surplus cash available from any of the properties UHF owns, besides&#13;the properties underlying these notes, can be used to repay outstanding interest and principal for these notes. The allowance&#13;on the notes was a purchase allowance that was netted against the notes when acquired..&lt;/p&gt;</us-gaap:FinancingReceivablesTextBlock>
    <us-gaap:EquityMethodInvestmentsDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 60pt"&gt;&lt;b&gt;NOTE 6.&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;&lt;b&gt;&lt;i&gt;INVESTMENTS&#13;    IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES&lt;/i&gt;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Investments&#13;in unconsolidated subsidiaries, jointly owned companies and other investees in which we have a 20% to 50% interest or otherwise&#13;exercise significant influence are carried at cost, adjusted for the Company&amp;#8217;s proportionate share of their undistributed&#13;earnings or losses, via the equity method of accounting.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;summary data presented below includes our investments accounted for under the equity method, except for our investment in VAA&#13;which is discussed in detail in Note 2 &amp;#8216;Investment in VAA&amp;#8217;.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company owns a 20% interest in Gruppa Florentina, LLC which is the sole shareholder of Milano Restaurants International Corporation,&#13;(&amp;#8220;Milano&amp;#8221;) which operates 33 pizza parlors under the trade name &amp;#8220;Me-N-Ed&amp;#8217;s Pizza Parlors&amp;#8221; and four&#13;pizza parlors operating under the trade name &amp;#8220;Blast 825 Pizza&amp;#8221;, located primarily in Central and Northern California.&amp;#160;&#13;Milano has a 100% ownership interest in Siena Corp, which operates two grills under the trade names &amp;#8220;Me-N-Ed&amp;#8217;s Victory&#13;Grill&amp;#8221; and &amp;#8220;Me-N-Ed&amp;#8217;s Coney Island Grill&amp;#8221;. Milano has a 100% ownership interest in Piazza del Pane, Inc.,&#13;which operates two restaurants located in Central California. Milano also has 23 franchised locations, including two operating,&#13;under the trade name Angelo &amp;#38; Vito&amp;#8217;s Pizzerias.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The&#13;following is a summary of the financial position and results of operations from our investees (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;As&#13;    of December 31,&lt;/b&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 60%; vertical-align: top"&gt;&lt;b&gt;&lt;u&gt;SUMMARY&#13;    OF FINANCIAL POSITION&lt;/u&gt;:&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Real estate, net&#13;    of accumulated depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,041&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,810&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,587&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Notes receivable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,238&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,724&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,708&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;32,566&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;32,176&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Notes payable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(10,195&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,287&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(17,845&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other liabilities&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,328&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,320&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,991&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Shareholders&amp;#8217;&#13;    equity/partners capital&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(41,302&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(39,007&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(23,651&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;For&#13;    the Year Ended December 31,&lt;/b&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;&lt;u&gt;SUMMARY OF&#13;    OPERATIONS&lt;/u&gt;:&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 61%; vertical-align: top"&gt;Revenue&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;55,241&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;53,834&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;38,747&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,456&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,456&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,279&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(50,861&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(49,647&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(35,410&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(621&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(673&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,065&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from&#13;    continuing operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,303&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;993&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;2,303&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;2,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;993&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Company&amp;#8217;s&#13;    20% proportionate share of earnings&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;461&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;412&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;199&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:EquityMethodInvestmentsDisclosureTextBlock>
    <us-gaap:DebtDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;b&gt;NOTE&#13;7.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;NOTES AND INTEREST PAYABLE&lt;/i&gt;&lt;/b&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Below&#13;is a summary of our notes and interest payable as of December 31, 2019 and 2018 (dollars in thousands):&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.15in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 70%; vertical-align: bottom; white-space: nowrap"&gt;Apartments&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;120,024&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;94,759&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Apartments&#13;    under Construction&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;9,017&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;14,402&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Commercial&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;92,838&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;136,327&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Land&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;19,128&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;27,520&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Corporate&#13;    and other notes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;20,429&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;22,527&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&#13;    notes payable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;261,436&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;295,535&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Less:&#13;    unamortized deferred borrowing costs&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(7,342&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(9,428&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&#13;    outstanding notes payable, net&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;254,094&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;286,107&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Accrued&#13;    Interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;779&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;861&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&#13;    notes payable, net and accrued interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;254,873&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;286,968&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;following table summarizes our contractual obligations for principal payments as of December 31, 2019 (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 30%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.15in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Year&#13;    &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Amount&#13;    &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 58%; vertical-align: bottom; white-space: nowrap"&gt;2020&lt;/td&gt;&#13;    &lt;td style="width: 3%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 3%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 33%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;34,304&lt;/td&gt;&#13;    &lt;td style="width: 3%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2021&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;55,393&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2022&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;13,437&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2023&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;36,770&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2024&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,995&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Thereafter&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;119,537&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 2pt double; text-align: right"&gt;261,436&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Interest&#13;payable at December 31, 2019 and 2018, was approximately $.08 million and $.09 million, respectively. Our debt has interest rates&#13;ranging from 2.5% to 9.75%&amp;#160;per annum with maturity dates between 2021 and 2059. The mortgages were collateralized by deeds&#13;of trust on real estate having a net carrying value of $311.5 million.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;There&#13;are various land mortgages, secured by the property, that are in the process of a modification or extension to the original note&#13;due to expiration of the loan. We are in constant contact with these lenders, working together in order to modify the terms of&#13;these loans and we anticipate a timely resolution that is similar to the existing agreement or subsequent modification.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;conjunction with the development of various apartment projects and other developments, we drew down $8.5 million and $81.0 million&#13;in construction loans during the year ended December 31, 2019, and 2018, respectively.&lt;/p&gt;</us-gaap:DebtDisclosureTextBlock>
    <arl:BondsAndBondsInterestPayableDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;8.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;BONDS AND BONDS INTEREST PAYABLE&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;August 2016, Southern Properties Capital LTD (&amp;#8220;Southern&amp;#8221;), a British Virgin Islands corporation was incorporated for&#13;the purpose of raising funds by issuing Bonds to be traded on the Tel Aviv Stock Exchange (&amp;#8220;TASE&amp;#8221;).&amp;#160; The Company&#13;transferred certain residential and commercial properties located in the United States to Southern, its wholly owned subsidiary.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;February 13, 2017, Southern filed a final prospectus with the TASE for an offering and sale of nonconvertible Series A Bonds to&#13;be issued by Southern. The bonds are obligations of Southern.&amp;#160; During the year ended December 31, 2017 on three separate&#13;occasions Southern issued nonconvertible Series A Bonds with a total value of approximately NIS400 million New Israeli Shekels&#13;(&amp;#8220;NIS&amp;#8221;) or approximately $115 million dollars.&amp;#160; The Series A Bonds have a stated interest rate of 7.3%.&amp;#160;&#13;At March 31, 2018 the effective interest rate is 9.17%. The bonds require semi-annual equal installments on January 31 and July&#13;31 of each year from 2019 to 2023 (inclusive). The interest will be repaid on January 31 and July 31 of each of the years 2018&#13;to 2023 (inclusive), with the first payment commencing on July 31, 2017.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;January 25, 2018, interest payment of approximately NIS 14.6 million (or approximately $4.3 million) was paid to the Series A&#13;bondholders.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;February&amp;#160;15, 2018, Southern issued Series B bonds in the amount of NIS&amp;#160;137.7 million par value (approximately $39.2&#13;million as of February&amp;#160;15, 2018). The Series B bonds are registered on the TASE. The bonds are reported in NIS and bear annual&#13;interest rate of 6.8%. Interest shall be repaid January&amp;#160;31 and July 31 of each of the years 2019 to 2023 (inclusive), first&#13;payment commencing on July 31, 2018. The principal shall be repaid in ten equal installments on January 31 and July&amp;#160;31 of&#13;each of the years from 2021 to 2025 (inclusive). A total bond issuance cost of $1.4 million was incurred. The effective interest&#13;rate is 7.99%.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;July 19, 2018, Southern closed a private placement of its Series B bonds in the amount of NIS 72.3 million (or approximately $19.8&#13;million). The bonds are reported in NIS, are registered on the TASE, bear an annual interest rate of 6.8% and have an effective&#13;interest rate of 9.60%. Interest will be paid on January 31 and July 31 of each of the years 2019 and 2013 (inclusive). The principal&#13;will be repaid in ten equal installment on January 31 and July 31 of each of the years from 2021 to 2012 (inclusive). The Company&#13;incurred bonds issuance costs of approximately $1.9 million.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;July 26, 2018, interest payment of approximately NIS 18.9 million (or approximately $5.2 million) was paid to the Series A and&#13;B bondholders.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;July 28, 2019, SPC issued Series C bonds in the amount of NIS 275 million (or approximately $78.1 million). The bonds are reported&#13;in NIS, and registered on the TASE, and bear an annual interest of 4.65%. The interest will be paid on January 31 and July 31&#13;of each of the years 2020 through 2023, with the principal payment due in 2023. The Company incurred bond issuance costs of approximately&#13;$4.2 million.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;September 23, 2019, Southern entered into a foreign exchange risk hedging transaction agreement with Bank Leumi with the aim of&#13;hedging the risk that the NIS exchange rate against the dollar will fall below 3, thereby reducing the exposure of the bonds (Series&#13;A, B and C) to exchange rate volatility.&amp;#160; The term of the agreement is six months and the face value of the transaction is&#13;NIS 664 million ($ 221 million).&amp;#160; The hedge transaction costs as well as the fair value as of December 31, 2019 are immaterial.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;During&#13;the year ended December 31, 2019, the Company made payments of $21.8 million and $11.6 million on bond principal and interests,&#13;respectively.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;January 27, 2020, the Company made payments of NIS 60.6 million in bond principal on the Series A and interests on the Series&#13;A, B, C (or approximately $17.6 million).&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On February 2, 2020, S&amp;#38;P Global Ratings&#13;announced the increase of the Company's issuer rating to 'ilA-' from 'ilBBB+' for Bonds (Series A and B). In addition, Series&#13;C bond rating (secured by one of SPC&amp;#8217;s commercial properties) increase to 'ilA' from 'ilA-' rating due to the expectation&#13;of continued improvement in coverage ratios and the expansion of Company&amp;#8217;s portfolio.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The&#13;outstanding balance of these Bonds at December 31, 2019 and 2018 were as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 72%; vertical-align: top"&gt;Bonds&#13;    (Series A)&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 11%; vertical-align: bottom; text-align: right"&gt;92,653&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 11%; vertical-align: bottom; text-align: right"&gt;106,686&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bonds (Series B)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;39,844&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;36,740&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bonds (Series B&#13;    expansion)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,920&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;19,290&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bonds (Series C)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;79,572&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total outstanding&#13;    bonds&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;232,989&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;162,716&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: deferred bond&#13;    issuance costs&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;(9,724&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;(8,179&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total outstanding&#13;    bonds, net&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;223,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;154,537&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Accrued Interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;6,457&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;4,037&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total outstanding&#13;    bonds, net and accrued interest&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;229,722&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;158,574&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The&#13;aggregate maturities of the bonds are as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 60%"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="border-bottom: #000000 1pt solid; vertical-align: bottom; text-align: left"&gt;&lt;b&gt;Year&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;Aggregate&#13;    &lt;br /&gt;Maturities&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 81%; vertical-align: top"&gt;2020&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 16%; vertical-align: bottom; text-align: right"&gt;23,148&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2021&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;35,301&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;2022&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;35,301&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2023&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;114,873&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;2024&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,153&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Thereafter&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;12,213&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;232,989&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;The&#13;recorded unrealized gain or loss is reflected as a separate line item to highlight the fact that it is a non-cash transaction&#13;until such time as actual payment of principal and interest on the bonds is made. For the year ended December 31, 2019 and 2018,&#13;the Company recorded a loss on foreign currency transaction of approximately $15.1 million, and a gain of $12.4 million, respectively.&lt;/p&gt;</arl:BondsAndBondsInterestPayableDisclosureTextBlock>
    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;&lt;b&gt;NOTE&#13;9. &lt;i&gt;RELATED PARTY TRANSACTIONS AND FEES&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;We&#13;apply ASC Topic 805, &amp;#8220;Business Combinations,&amp;#8221; to evaluate business relationships. Related parties are persons or entities&#13;who have one or more of the following characteristics, which include entities for which investments in their equity securities&#13;would be required, trust for the benefit of persons including principal owners of the entities and members of their immediate&#13;families, management personnel of the entity and members of their immediate families and other parties with which the entity may&#13;deal if one party controls or can significantly influence the decision making of the other to an extent that one of the transacting&#13;parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;The&#13;Company has historically engaged in and may continue to engage in certain business transactions with related parties, including&#13;but not limited to asset acquisition and dispositions. Transactions involving related parties cannot be presumed to be carried&#13;out on an arm&amp;#8217;s length basis due to the absence of free market forces that naturally exist in business dealings between&#13;two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms,&#13;conditions and agreements that are not necessarily beneficial to or in our best interest.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"&gt;Since&#13;April 30, 2011, Pillar, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member&#13;of which is RAI, a Nevada corporation, the sole shareholder of which is MRHI, a Nevada corporation, the sole shareholder of which&#13;is a trust known as the May Trust, became the Company&amp;#8217;s external Advisor and Cash Manager.&amp;#160; Pillar&amp;#8217;s duties include,&#13;but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities. Pillar&#13;also arranges, for the Company&amp;#8217;s benefit, debt and equity financing with third party lenders and investors. Pillar also&#13;serves as an Advisor and Cash Manager to TCI and IOR.&amp;#160; As the contractual advisor, Pillar is compensated by ARL under an&#13;Advisory Agreement that is more fully described in Part III, Item&amp;#160;10. &amp;#8220;Directors, Executive Officers and Corporate&#13;Governance &amp;#8211; The Advisor.&amp;#8221;&amp;#160; ARL has no employees. Employees of Pillar render services to ARL in accordance with&#13;the terms of the Advisory Agreement.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Regis&#13;Realty Prime, LLC, dba Regis Property Management, LLC (&amp;#8220;Regis&amp;#8221;), the sole member of which is Realty Advisors, LLC,&#13;manages our commercial properties and provides brokerage services. Regis receives property management fees and leasing commissions&#13;in accordance with the terms of its property-level management agreement. Regis is also entitled to receive real estate brokerage&#13;commissions in accordance with the terms of a non-exclusive brokerage agreement. See Part III, Item&amp;#160;10. &amp;#8220;Directors,&#13;Executive Officers and Corporate Governance &amp;#8211; Property Management and Real Estate Brokerage.&amp;#8221; &amp;#160;ARL engages third-party&#13;companies to lease and manage its apartment properties.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Below&#13;is a description of the related party transactions and fees between Pillar and Regis for each of the three years ended December&#13;31, 2019:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Fees,&#13;expenses, and revenue paid to and/or received from our advisor:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 95%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.5in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;For&#13;    the years ended December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; text-align: center"&gt;(dollars&#13;    in thousands)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 61%; vertical-align: top"&gt;Fees:&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Advisory&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,612&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,475&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,082&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Mortgage&#13;    brokerage and equity refinancing&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;852&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,712&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Net&#13;    income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;357&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;631&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;250&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;6,969&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;12,958&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;13,044&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other Expense:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Cost&#13;    reimbursements&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,720&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,240&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Interest&#13;    paid (received)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(4,686&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,370&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,195&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;(421&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;1,350&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;2,045&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Revenue:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Rental&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;1,311&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;1,178&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;783&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Fees&#13;paid to Regis and related parties:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 97%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.15in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;For&#13;    the years ended December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: bottom; text-align: center"&gt;(dollars&#13;    in thousands)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 61%; vertical-align: bottom"&gt;Fees:&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; padding-left: 16px"&gt;Property&#13;    acquisition&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;318&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;32,008&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,128&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; padding-left: 16px"&gt;Property&#13;    management, construction management and leasing commissions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;165&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;540&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; padding-left: 16px"&gt;Real&#13;    estate brokerage&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;71&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,068&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,369&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;554&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;34,616&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;11,460&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company received rental revenue of $1.3 million, $1.2 million, and $0.8 million in the years ended December 31, 2019, 2018, and&#13;2017, respectively, from Pillar and its related parties for properties owned by the Company.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;As&#13;of December 31, 2019, the Company had notes and interest receivables, net of allowances, of $96.0 million and $7.5 million, respectively,&#13;due from UHF, a related party. See Part 2, Item 8. Note 5. &amp;#8220;Notes and Interest Receivable.&amp;#8221; During 2019, the Company&#13;recognized interest income of $11.0 million, originated $21.4 million, received $18.2 million in principal payments, and received&#13;interest payments of $10.4 million from these related party notes receivables.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;January 1, 2012, the Company&amp;#8217;s subsidiary, TCI, entered into a development agreement with UHF, a non-profit corporation&#13;that provides management services for the development of residential apartment projects in the future. This development agreement&#13;was terminated December 31, 2013. The Company has also invested in surplus cash notes receivables from UHF and has sold several&#13;residential apartment properties to UHF in prior years. Due to this ongoing relationship and the significant investment in the&#13;performance of the collateral secured under the notes receivable, UHF has been determined to be a related party.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company is the primary guarantor, on a $25.0 million mezzanine loan between UHF and a lender. In addition, ARL, and an officer&#13;of the Company are limited recourse guarantors of the loan. As of December 31, 2019, UHF was in compliance with the covenants&#13;to the loan agreement.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company is part of a tax sharing and compensating agreement with respect to federal income taxes between ARL, TCI and IOR and&#13;their subsidiaries that was entered into in July of 2009. The expense (benefit) in each year was calculated based on the amount&#13;of losses absorbed by taxable income multiplied by the maximum statutory tax rate of 21%.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;addition, SPC is part of a management service agreement with the controlling shareholder owned company in which SPC for an annual&#13;payment of 0.5% on the value of the investment properties receives from the Advisor office space, administrative and management&#13;services. During 2019, SPC paid management fees to Pillar in the amount of $2.2 million.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties&#13;(Pillar) as of December 31, 2019 and 2018:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 70%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;Pillar&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 82%; vertical-align: top"&gt;Related&#13;    party receivable, December 31, 2018&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 14%; vertical-align: bottom; text-align: right"&gt;70,377&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Cash&#13;    transfers&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;38,139&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Advisory&#13;    fees&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,612&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Net&#13;    income fee&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(357&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Cost&#13;    reimbursements&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Interest&#13;    income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,686&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Notes&#13;    receivable purchased&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(28,669&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Fees&#13;    and commissions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(71&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Expenses&#13;    (paid) received by Advisor&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;10,521&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Financing&#13;    (mortgage payments)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(299&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Sales/purchases&#13;    Commission&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(318&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Intercompany&#13;    property transfers&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,864&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Related party receivable,&#13;    December 31, 2019&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;85,996&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <us-gaap:DeferredRevenueDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;10.&amp;#160;&amp;#160;&amp;#160;&amp;#160; DEFERRED INCOME&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;previous years, the Company has sold properties to related parties where we have had continuing involvement in the form of management&#13;or financial assistance associated with the sale of the properties. Because of the continuing involvement associated with the&#13;sale, the sales criteria for the full accrual method is not met, and as such the Company has deferred some or all of the gain&#13;recognition and accounted for the sale by applying the finance, deposit, installment or cost recovery methods, as appropriate,&#13;until the sales criteria is met. The gains on these transactions have been deferred until the properties are sold to a non-related&#13;third party. As of December 31, 2019, we had deferred gain of $24.8 million.&lt;/p&gt;</us-gaap:DeferredRevenueDisclosureTextBlock>
    <arl:DividendsTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;11.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;DIVIDENDS&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;ARL&amp;#8217;s&#13;Board of Directors established a policy that dividend declarations on common stock would be determined on an annual basis following&#13;the end of each year. In accordance with that policy, no dividends on ARL&amp;#8217;s common stock were declared for fiscal years&#13;ended 2019, 2018, or 2017. Future distributions to common stockholders will be determined by the Board of Directors in light of&#13;conditions then existing, including the Company&amp;#8217;s financial condition and requirements, future prospects, restrictions in&#13;financing agreements, business conditions and other factors deemed relevant by the Board. On January 12, 2018 Realty Advisors&#13;converted 200,000 preferred Series A shares plus accrued dividends into 482,716 shares of common stock.&lt;/p&gt;</arl:DividendsTextBlock>
    <us-gaap:PreferredStockTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;12.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;PREFERRED STOCK&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Under&#13;ARL&amp;#8217;s Amended Articles of Incorporation, 15,000,000 shares of Series A 10.0% Cumulative Convertible Preferred Stock are&#13;authorized to be issued with a par value of $2.00 per share with a liquidation preference of $10.00 per share plus accrued and&#13;unpaid dividends. Dividends are payable at the annual rate of $1.00 per share, or $.25 per share quarterly, to stockholders of&#13;record on the last day of each March, June, September, and December, when and as declared by the Board of Directors. The Series&#13;A Preferred Stock may be converted into common stock at 90.0% of the average daily closing price of ARL&amp;#8217;s common stock for&#13;the prior 20 trading days.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;December 31, 2018, a stock transfer agreement was entered into between Realty Advisors, Inc. (&amp;#8220;RAI&amp;#8221;) and TCI whereby&#13;TCI purchased from RAI 900,000 shares of Series A Preferred Stock for a total purchase price of approximately $9 million.&amp;#160;&#13;Also, as part of the agreement, TCI acquired accrued unpaid dividends on the 900,000 shares of Series A Preferred Stock of approximately&#13;$9.9 million.&amp;#160; At December 31, 2018, 1.8 million shares of Series A Convertible Preferred Stock have been eliminated in consolidation.&amp;#160;&#13;Unpaid accrued dividends in the amount of $9.9 million have also been eliminated in consolidation.&amp;#160; After these eliminations,&#13;there are 614 shares outstanding of Series A Preferred Stock at December 31, 2019, and 2018.&lt;/p&gt;</us-gaap:PreferredStockTextBlock>
    <us-gaap:SegmentReportingDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;15.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;OPERATING SEGMENTS&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Our&#13;segments are based on management&amp;#8217;s method of internal reporting which classifies its operations by property type. The segments&#13;are commercial, apartments, land and other. Significant differences among the accounting policies of the operating segments as&#13;compared to the Consolidated Financial Statements principally involve the calculation and allocation of administrative and other&#13;expenses. Management evaluates the performance of each of the operating segments and allocates resources to them based on their&#13;operating income and cash flow.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Items&#13;of income that are not reflected in the segments are interest, other income, equity in partnerships and gains on sale of real&#13;estate. Expenses that are not reflected in the segments are provision for losses, advisory, net income and incentive fees, general&#13;and administrative, non-controlling interests and net loss from discontinued operations before gains on sale of real estate.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;segment labeled as &amp;#8220;Other&amp;#8221; consists of revenue and operating expenses related to the notes receivable and corporate&#13;debt.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Presented&#13;below is the Company&amp;#8217;s reportable segments&amp;#8217; operating income including segment assets and expenditures for the years&#13;2019, 2018 and 2017 (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;For&#13;    the Twelve Months Ended December 31, 2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Commercial&#13;    &lt;br /&gt;Properties&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 35%; vertical-align: top"&gt;Rental&#13;    and other property revenues&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;32,707&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;15,257&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;6&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;47,970&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Property operating&#13;    expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(15,805&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(8,375&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(735&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(779&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(25,694&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(10,229&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,150&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(13,379&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Mortgage and loan&#13;    interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,018&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,069&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,301&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(27,472&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(39,860&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss on debt extinguishment&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,219&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,219&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,955&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,955&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss on the sale&#13;    of income producing property&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,272&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,272&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Segment operating&#13;    (loss) income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(5,564&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(417&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;13,236&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(2,290&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;4,965&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Capital expenditures&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,257&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,001&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,489&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,747&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Real estate assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;229,424&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;178,536&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;70,003&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;477,963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Property Sales&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Sales price&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,096&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;30,012&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,108&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Cost of sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,176&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(14,740&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(17,916&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;15,272&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;15,192&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;For&#13;    the Twelve Months Ended December 31, 2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Commercial&#13;    &lt;br /&gt;Properties&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 35%; vertical-align: top"&gt;Operating&#13;    revenue&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;33,113&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;87,832&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;1&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;10&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;120,956&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(16,252&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(42,134&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(645&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(556&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(59,587&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation and&#13;    amortization&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,530&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(13,140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(22,670&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Mortgage and loan&#13;    interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,663&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(20,671&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(636&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(37,093&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(66,063&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;21,645&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;21,645&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Segment operating&#13;    income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(332&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;11,887&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;16,124&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(15,994&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;11,685&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Capital expenditures&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8,246&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;16,953&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,199&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;153,014&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;143,500&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;84,529&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;381,043&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Property Sales&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Sales price&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,313&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8,512&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;43,311&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;54,136&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Cost of sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(2,313&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(8,512&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(25,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(36,732&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;For&#13;    the Twelve Months Ended December 31, 2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Commercial&#13;    &lt;br /&gt;Properties&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 35%; vertical-align: top"&gt;Operating&#13;    revenue&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;33,286&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;92,807&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;111&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;17&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;126,221&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(18,549&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(43,677&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(878&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(987&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(64,091&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation and&#13;    amortization&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,358&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(16,354&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(25,679&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Mortgage and loan&#13;    interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,527&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(22,347&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,945&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(34,352&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(66,171&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,941&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,941&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale of&#13;    income producing properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,391&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,547&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;16,698&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;4,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;4,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Segment operating&#13;    income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;243&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;23,189&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;3,719&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(16,348&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;10,803&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Capital expenditures&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,817&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,402&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;609&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,806&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;137,157&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;727,508&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;123,452&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;988,117&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Property Sales&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Sales price&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,050&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;29,969&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;35,019&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Cost of sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(2,659&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(23,538&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(26,197&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Recognized prior&#13;    deferred gain&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;2,391&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;6,431&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;21,582&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The&#13;table below reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;For&#13;    the Years Ended December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 61%; vertical-align: top; padding-left: 0.25in; text-indent: -0.25in"&gt;Segment&#13;    operating income&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;4,965&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;11,685&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;10,803&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.25in; text-indent: -0.25in"&gt;Other&#13;    non-segment items of income (expense)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;General&#13;    and administrative&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(13,336&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(12,708&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,691&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Net&#13;    income fee to related party&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(357&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(631&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(250&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Advisory&#13;    fee to related party&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,612&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,475&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,082&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Other&#13;    income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,018&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;28,993&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,082&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Gain&#13;    on disposition of 50% interest in VAA&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;154,126&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Foreign&#13;    currency translation (loss) gain&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(15,108&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,399&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,536&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Loss&#13;    from joint venture&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(2,774&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;44&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Loss&#13;    on sale of investments&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(331&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Earnings&#13;    from unconsolidated investees&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;461&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,469&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;309&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-bottom: 1pt; text-align: left"&gt;Income&#13;    tax expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,210&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(180&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.25in; text-indent: -0.25in"&gt;Net&#13;    (loss) income from continuing operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(21,743&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;182,692&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(8,876&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;table below reflects the reconciliation of the segment information to the corresponding amounts in the Consolidated Balance Sheets&#13;(dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;As&#13;    of December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 61%; vertical-align: top"&gt;Segment&#13;    assets&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;387,790&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;381,043&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;988,117&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Investments in unconsolidated&#13;    investees&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;67,655&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;76,001&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,396&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Notes and interest&#13;    receivable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;156,200&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;126,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;112,095&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;218,996&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;243,047&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;190,112&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;830,641&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;826,149&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;1,296,720&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
    <us-gaap:QuarterlyFinancialInformationTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;16.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;QUARTERLY RESULTS OF OPERATIONS&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;following is a tabulation of quarterly results of operations for the years 2019, 2018 and 2017. Quarterly results presented differ&#13;from those previously reported in ARL&amp;#8217;s Form 10-Q due to the reclassification of the operations of properties sold or held&#13;for sale to discontinued operations in accordance with ASC topic 360:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Three&#13;    Months Ended 2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;March&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;June&#13;    30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;September&#13;    30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars&#13;    in thousands, except share and per share amounts) &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 52%; vertical-align: top"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating&#13;    revenues&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,929&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,840&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,943&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,258&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating&#13;    expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;13,664&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;16,217&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;13,809&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,688&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating loss&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,735&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,377&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,866&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,430&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(6,963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,927&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(12,723&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,914&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss)&amp;#160; before&#13;    gain on sales, non-contolling interest, and taxes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(8,698&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,304&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(14,589&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,344&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss on sale of&#13;    income producing properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,216&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,517&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;5,139&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;5,400&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net loss from continued&#13;    operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(6,482&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,867&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(9,450&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,944&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net loss&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,482&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,867&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,450&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,944&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: net (income)&#13;    attributable to non-controlling interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;335&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,089&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,879&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,482&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(6,147&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(2,778&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(7,571&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;538&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;PER SHARE DATA&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per&#13;    share - basic&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from&#13;    continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.41&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.24&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.12&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss)&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.38&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.17&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.47&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.03&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average&#13;    common shares used in computing earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per&#13;    share - diluted&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from&#13;    continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.41&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.24&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.12&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss)&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.38&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.17&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.47&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.03&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average&#13;    common shares used in computing diluted earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Three&#13;    Months Ended 2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;March&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;June&#13;    30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;September&#13;    30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars&#13;    in thousands, except share and per share amounts) &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 52%; vertical-align: top"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating&#13;    revenues&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,083&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,607&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,409&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;24,857&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating&#13;    expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;26,165&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;27,990&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;28,199&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;24,717&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,918&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,617&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,210&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other (expense)&#13;    income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(6,638&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,678&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;5,955&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,508&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income&amp;#160;&#13;    before gain on sales, non-contolling interest, and taxes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,720&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,295&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,165&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,368&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on formation&#13;    of joint venture&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;154,126&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,335&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,243&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,826&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income tax expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(792&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(418&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(385&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;6,295&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;22,616&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;154,166&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(385&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,295&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;22,616&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;154,166&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: net (income)&#13;    attributable to non-controlling interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(441&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(2,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,012&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Preferred dividend&#13;    requirement&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(225&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(225&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(225&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(226&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(885&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;5,629&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;20,126&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;147,928&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;PER SHARE DATA&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per&#13;    share - basic&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income from&#13;    continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;9.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;9.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average&#13;    common shares used in computing earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,938,077&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per&#13;    share - diluted&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from&#13;    continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;9.27&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss)&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;9.27&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average&#13;    common shares used in computing diluted earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,938,077&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Three&#13;    Months Ended 2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;March&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;June&#13;    30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;September&#13;    30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars&#13;    in thousands, except share and per share amounts) &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 48%; vertical-align: top"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating&#13;    revenues&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,822&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,587&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,807&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,005&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating&#13;    expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;27,345&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;26,759&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;26,397&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;28,292&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,477&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,828&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,410&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,713&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(10,829&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(15,676&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(9,348&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(11,853&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss before gain&#13;    on sales, non-contolling interest, and taxes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,352&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(10,848&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,938&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale of&#13;    income producing properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,938&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain (loss) on land&#13;    sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;445&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(476&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,062&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,853&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income tax expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(180&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(5,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(11,324&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;9,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,529&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,324&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,529&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: net (income)&#13;    loss attributable to non-controlling interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;193&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;435&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(522&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;339&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Preferred dividend&#13;    requirement&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(280&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(5,989&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(11,164&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;9,087&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(1,470&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;PER SHARE DATA&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per&#13;    share - basic&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income from&#13;    continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average&#13;    common shares used in computing earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per&#13;    share - diluted&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income from&#13;    continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&#13;    applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average&#13;    common shares used in computing diluted earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:QuarterlyFinancialInformationTextBlock>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;17.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;COMMITMENTS, CONTINGENCIES, AND LIQUIDITY&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Liquidity.&#13;&lt;/i&gt;&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Management believes that TCI will generate excess cash from property operations in 2020; such&#13;excess, however, might not be sufficient to discharge all of TCI&amp;#8217;s obligations as they become due. Management intends to&#13;sell income-producing assets, refinance real estate and obtain additional borrowings primarily secured by real estate to meet&#13;its liquidity requirements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Guarantees&lt;/i&gt;&lt;/b&gt;&lt;i&gt;.&amp;#160;&lt;/i&gt;The&#13;Company is the primary guarantor, on a $25.0 million mezzanine loan between UHF and a lender. In addition, ARL, and an officer&#13;of the Company are limited recourse guarantors of the loan. As of December 31, 2019 UHF was in compliance with the covenants to&#13;the loan agreement.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Partnership&#13;Buyouts&lt;/i&gt;.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;TCI is the limited partner in various partnerships related the construction of residential&#13;properties. As permitted in the respective partnership agreements, TCI intends to purchase the interests of the general and any&#13;other limited partners in these partnerships subsequent to the completion of these projects. The amounts paid to buy out the nonaffiliated&#13;partners are limited to development fees earned by the non-affiliated partners, and are set forth in the respective partnership&#13;agreements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;ART&#13;and ART Midwest, Inc.&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A&#13;formerly owned entity (American Realty Trust, Inc.) and its former subsidiary (ART Midwest, Inc.) have been parties&amp;#160; to a&#13;litigation with Mr. David Clapper and entities related to Mr. Clapper (collectively, the &amp;#8220;Clapper Parties&amp;#8221;). The matter&#13;originally involved a transaction in 1998 in which ART Midwest, Inc. was to acquire eight residential apartment complexes from&#13;the Clapper Parties. Through the years, a number of rulings, both for and against American Realty Trust, Inc. &amp;#8220;ART&amp;#8221;&#13;and ART Midwest, Inc., were issued. In October 2011, a ruling was issued under which the Clapper Parties received a judgment for&#13;approximately $74 million, including $26 million in actual damages and $48 million interest. The ruling was against ART and ART&#13;Midwest, Inc., but no other entity. During February 2014, the Court of Appeals affirmed a portion of the judgment in favor of&#13;the Clapper Parties, but also ruled that a double counting of a significant portion of the damages had occurred and remanded the&#13;case back to the trial court to recalculate the damage award, as well as pre- and post-judgment interest thereon. Subsequently,&#13;the trial court recalculated the damage award, reducing it to approximately $59 million, inclusive of actual damages and then&#13;current interest. ART was also a significant owner of a partnership interest in the partnership that was awarded the initial damages&#13;in this matter.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Clapper Parties subsequently filed a new lawsuit against ARI, its subsidiary EQK Holdings, Inc. &amp;#8220;EQK&amp;#8221;, and ART. The&#13;Clapper Parties seek damages from ARL for payment by ART to ARL of ART&amp;#8217;s stock in EQK in exchange for a release of the Antecedent&#13;Debt owed by ART to ARI. In February 2018 the court determined that this legal matter should not have been filed in federal court&#13;and therefore granted motions to dismiss on jurisdictional grounds. In June 2018, the court overruled its own grant of motions&#13;to dismiss and reinstated the case. We continue to vigorously defend the case and management believes it has defenses to the claims.&#13;The case has not been set for trial.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;In&#13;2005, ART filed suit against a major national law firm over the initial transaction. That action was initially abated while the&#13;principal case with the Clapper Parties was pending, but the abatement was recently lifted. The trial court subsequently dismissed&#13;the case on procedural grounds, but ART has filed a notice of appeal. The appeal was heard in February 2018 and the case was subsequently&#13;appealed to the Texas Supreme Court. The application for Review is still pending with the Texas Supreme Court.&amp;#160; In January&#13;2012, the Company sold all of the issued and outstanding stock of ART to an unrelated party for a promissory note in the amount&#13;of $10 million. At December 31, 2012, the Company fully reserved and valued such note at zero.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;Dynex&#13;Capital, Inc.&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On&#13;July 20, 2015, the 68&lt;sup&gt;th&lt;/sup&gt;&amp;#160;Judicial District Court in Dallas County, Texas issued its Final Judgment in Cause No.&#13;DC-03-00675, styled Basic Capital Management, Inc., American Realty Trust, Inc., Transcontinental Realty Investors, Inc., Continental&#13;Poydras Corp., Continental Common, Inc. and Continental Baronne, Inc. v. Dynex Commercial, Inc. The case, which was litigated&#13;for more than a decade, had its origin with Dynex Commercial making loans to Continental Poydras Corp., Continental Common, Inc.&#13;and Continental Baronne, Inc. (subsidiaries of Continental Mortgage &amp;#38; Equity Trust (&amp;#8220;CMET&amp;#8221;), an entity which merged&#13;into TCI in 1999 after the original suit was filed). Under the original loan commitment, $160 million in loans were to be made&#13;to the entities. The loans were conditioned on the execution of a commitment between Dynex Commercial and Basic Capital Management,&#13;Inc. (&amp;#8220;Basic&amp;#8221;).&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;An&#13;original trial in 2004, which also included Dynex Capital, Inc. as a defendant, resulted in a jury awarding damages in favor of&#13;Basic for &amp;#8220;lost opportunity,&amp;#8221; as well as damages in favor of ART and in favor of TCI and its subsidiaries for &amp;#8220;increased&#13;costs&amp;#8221; and &amp;#8220;lost opportunity.&amp;#8221; The original Trial Court judge ignored the jury&amp;#8217;s findings, however, and&#13;entered a &amp;#8220;Judgment Notwithstanding the Verdict&amp;#8221; (&amp;#8220;JNOV&amp;#8221;) in favor of the Dynex entities (the judge held&#13;the Plaintiffs were not entitled to any damages from the Dynex entities). After numerous appeals by all parties, Dynex Capital,&#13;Inc. was ultimately dismissed from the case and the remaining claims against Dynex Commercial were remanded to the Trial Court&#13;for a new judgment consistent with the jury&amp;#8217;s findings. The Court entered the new Final Judgment against Dynex Commercial,&#13;Inc. on July 20, 2015.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Final Judgment entered against Dynex Commercial, Inc. on July 20, 2015 awarded Basic was $0.256 million in damages, plus pre-judgment&#13;interest of $0.192 million for a total amount of $0.448 million. The Judgment awarded ART was $14.2 million in damages, plus pre-judgment&#13;interest of $10.6 million for a total amount of $24.8 million. The Judgment awarded TCI was $11.1 million, plus pre-judgment interest&#13;of $8.4 million for a total amount of $19.5 million. The Judgment also awarded Basic, ART, and TCI post-judgment interest at the&#13;rate of 5% per annum from April 25, 2014 until the date their respective damages were paid. Lastly, the Judgement awarded Basic,&#13;ART, and TCI was $1.6 million collectively in attorneys&amp;#8217; fees from Dynex Commercial, Inc.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;TCI&#13;is working with counsel to identify assets and collect on the Final Judgment against Dynex Commercial, Inc., as well as pursue&#13;additional claims, if any, against Dynex Capital, Inc. Post judgment interest continues to accrue.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;Berger&#13;Litigation&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On February 4, 2019, an individual claiming to be a stockholder holding 7,900 shares of Common Stock of Income Opportunity Realty Investors, Inc. (&amp;#8220;IOR&amp;#8221;) filed a Complaint in the United States District Court for the Northern District of Texas, Dallas Division, individually and allegedly derivatively on behalf of IOR, against Transcontinental Realty Investors, Inc. (&amp;#8220;TCI&amp;#8221;), American Realty Investors, Inc. (&amp;#8220;ARL&amp;#8221;), (TCI is a shareholder of IOR, ARL is a shareholder of TCI) Pillar Income Asset Management, Inc. (&amp;#8220;Pillar&amp;#8221;), ( collectively the &amp;#8220;Companies&amp;#8221;), certain officers and directors of the Companies (&amp;#8220;Additional Parties&amp;#8221;) and two other individuals. The Complaint filed alleges that the sale and/or exchange of certain tangible and intangible property between the Companies and IOR during the last ten years of business operations constitutes a breach of fiduciary duty by the one or more of Companies, the Additional Defendants and/or the directors of IOR. The case alleges other related claims. The Plaintiff seeks certification as a representative of IOR and all of its shareholders, unspecified damages, a return to IOR of various funds and an award of costs, expenses, disbursements (including Plaintiff&amp;#8217;s attorneys&amp;#8217; fees) and prejudgment and post-judgment interest. The named Defendants intend to vigorously defend the action, deny all of the allegations of the Complaint, and believe the allegations to be wholly without any merit. The Defendants have filed motions to dismiss the case in its entirety in June 2019. On February 26, 2020, the Court denied IOR&amp;#8217;s demand futility motion. The remainder of the motions to dismiss are pending.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Litigation&lt;/i&gt;&lt;/b&gt;&lt;i&gt;.&amp;#160;&lt;/i&gt;The&#13;ownership of property and provision of services to the public as tenants entails an inherent risk of liability. Although the Company&#13;and its subsidiaries are involved in various items of litigation incidental to and in the ordinary course of its business, in&#13;the opinion of management, the outcome of such litigation will not have a material adverse impact upon the Company&amp;#8217;s financial&#13;condition, results of operation or liquidity.&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <us-gaap:EarningsPerShareTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;18.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;EARNINGS PER SHARE&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Earnings&#13;per share (&amp;#8220;EPS&amp;#8221;) has been computed pursuant to the provisions of ASC Topic 260 &amp;#8220;&lt;i&gt;Earnings Per Share.&amp;#8221;&amp;#160;&lt;/i&gt;The&#13;computation of basic EPS is calculated by dividing net income available to common shareholders from continuing operations, adjusted&#13;for preferred dividends, by the weighted-average number of common shares outstanding during the period. Shares issued during the&#13;period shall be weighted for the portion of the period that they were outstanding.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;For&#13;the years ended December 31, 2019 and 2018, we had 614 shares issued and 1,800,614 outstanding of Series A 10.0% cumulative convertible&#13;preferred stock. These shares may be converted into common stock at 90% of the average daily closing price of the common stock&#13;for the prior 20 trading days. These are considered in the computation of diluted earnings per share if the effect of applying&#13;the if-converted method is dilutive. On January 12, 2018 Realty Advisors (&amp;#8220;RAI&amp;#8221;) converted 200,000 preferred shares,&#13;plus accrued dividends into 482,716 shares of common stock. Of the outstanding 1,800,614 shares, 900,000 are held by ARL. Dividends&#13;are not paid on the shares owned by ARL.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Prior&#13;to July 17, 2014, RAI owned 2,451,435 shares of the outstanding Series A 10.0.0% convertible preferred stock and had accrued dividends&#13;unpaid of $15.1 million. On July 17, 2014, RAI converted 890,797 shares, including $6.3 million in accumulated dividends unpaid&#13;for these shares, into the requisite number of shares of common stock. This conversion resulted in the issuance of 2,502,230 new&#13;shares of ARL common stock. On April 9, 2015, RAI converted 460,638 shares including $2.3 million in accumulated dividends unpaid&#13;for these shares, into the requisite number of shares of common stock. This conversion resulted in the issuance of 1,486,741 new&#13;shares of ARL common stock. As of December 31, 2018, RAI owns 900,000 shares of the outstanding Series A convertible preferred&#13;stock and has accrued unpaid dividends of approximately $9.9 million.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company had 135,000 shares of Series K convertible preferred stock, which were held by TCI and used as collateral on a note. The&#13;note has been paid in full and the Series K preferred stock was cancelled May 7, 2014.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Prior&#13;to January 1, 2015, the Company had 1,000 shares of stock options outstanding. These options expired unexercised January 1, 2015.&#13;The options are no longer included in the dilutive earnings per share calculation for the current period, but are considered in&#13;the computation for the prior periods if applying the &amp;#8220;treasury stock&amp;#8221; method is dilutive.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;As&#13;of December 31, 2019 and 2018, the Series A convertible preferred stock and the stock options were anti-dilutive and therefore&#13;not included in the EPS calculation.&lt;/p&gt;</us-gaap:EarningsPerShareTextBlock>
    <srt:RealEstateAndAccumulatedDepreciationDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"&gt;&lt;b&gt;Schedule&#13;III&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;REAL&#13;ESTATE AND ACCUMULATED DEPRECIATION&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;December&#13;31, 2019&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="height: 625px; width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="5" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Initial&#13;    Cost&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Cost&#13;    Capitalized Subsequent to Acquisition&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Asset&#13;    Impairment&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="8" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Gross&#13;    Amount of Which Carried at End of Year&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Property/Location&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Encumbrances&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Buildings&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Improvements&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Asset&#13;    Impairment&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Building&#13;    &amp;#38; &lt;/b&gt;&lt;br /&gt;&lt;b&gt;Improvements&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Accumulated&lt;/b&gt;&lt;br /&gt;&lt;b&gt;Depreciation&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Date&#13;    of&lt;/b&gt;&lt;br /&gt;&lt;b&gt;Construction&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Date&#13;    &lt;/b&gt;&lt;br /&gt;&lt;b&gt;Acquired&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Life&#13;    on Which Depreciation&lt;br /&gt;In Latest Statement of Operation is Computed&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13; 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   &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Legacy at Pleasant&#13;    Grove, Texarkana, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,944&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,005&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13; 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text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,114&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,289&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2006&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;12/14&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Toulon, Gautier,&#13;    MS&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;19,575&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,621&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,107&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;372&lt;/td&gt;&#13; 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   &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,398&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,339&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,398&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;14,737&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,893&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2009&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;10/15&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Chelsea, Beaumont,&#13;    TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8,794&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,225&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,025&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;160&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,225&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,185&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,410&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;303&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1999&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;11/18&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Overlook at Allensville&#13;    Phase II, Sevierville, TN&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,829&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,411&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;17,005&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,411&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;17,005&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;19,416&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;319&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;11/15&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Landing, Houma,&#13;    LA&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,484&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,115&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,012&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,152&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;491&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2005&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;12/18&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Farnham Park, Port&#13;    Aurther, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,183&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,010&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,086&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;144&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,010&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,230&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;10,240&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;251&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1999&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;11/18&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Parc at Denham Springs&#13;    Phase II, Denham Springs, LA&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,079&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,502&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;12,486&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;3,508&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,502&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,994&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;17,496&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;50&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2010&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;11/9&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total Apartments&#13;    Held for Investment&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;120,024&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;15,981&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;135,766&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;4,426&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#8212;&lt;/b&gt;&lt;/td&gt;&#13; 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text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;&lt;b&gt;Apartments&#13;    Under Construction&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13; 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text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Forest Pines, Bryan,&#13;    TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13; 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   &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;6/17&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Forest Pines Phase&#13;    II (Forest Grove), Bryan, TX&lt;/td&gt;&#13; 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text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,674&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,674&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13; 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text-align: right"&gt;1,155&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,098&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;81&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,098&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;81&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,179&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;9/19&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total Apartments&#13;    Under Construction&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;9,017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;10,195&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#8212;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;12,168&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#8212;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;10,195&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;12,168&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;22,363&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#8212;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Commercial&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;600 Las Colinas,&#13;    Las Colinas, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;37,215&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,751&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;51,759&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,143&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,751&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;71,902&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;77,653&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;32,858&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1984&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;8/05&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;770 South Post Oak,&#13;    Houston, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,178&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,763&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,834&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;697&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,763&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;16,531&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,294&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,117&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1970&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;7/15&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bridgeview Plaza,&#13;    LaCrosse, WI&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,908&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,207&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,207&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,207&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;804&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1979&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;3/03&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; width: 14%"&gt;Browning&#13;    Place (Park West I), Farmers Branch, TX&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 4%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;5,096&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;45,868&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;26,645&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;5,096&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;72,513&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;77,609&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;29,867&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 4%"&gt;1984&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 4%"&gt;4/05&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; width: 6%"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Fruitland&#13;    Plaza, Fruitland Park, FL&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;23&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;83&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;23&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;83&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;106&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;71&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;5/92&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Senlac&#13;    VHP, Farmers Branch, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;622&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;142&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;622&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;142&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;764&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;142&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;8/05&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Stanford&#13;    Center, Dallas, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;39,537&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;20,278&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;34,862&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;8,251&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(9,600&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;20,278&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;33,513&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;53,791&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;13,752&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;6/08&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;40&#13;    years&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;&lt;b&gt;Total&#13;    Commercial Held for Investment&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;92,838&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;33,533&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;148,323&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;57,168&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;(9,600&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;33,533&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;195,891&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;229,424&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;79,611&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Dedeaux,&#13;    Gulfport, MS&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,612&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;46&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(38&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,612&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,620&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;10/06&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Gautier,&#13;    Gautier, MS&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;202&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;202&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;202&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;7/98&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Lake&#13;    Shore Villas, Humble, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;81&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;81&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;84&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;3/02&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Lubbock,&#13;    Lubbock, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;234&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;234&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;234&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;1/04&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Ocean&#13;    Estates, Gulfport, MS&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,418&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;390&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,418&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;390&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,808&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;10/07&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Union&#13;    Pacific Railroad, Dallas, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;130&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;130&lt;/td&gt;&#13; 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text-align: left"&gt;3/04&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Willowick,&#13;    Pensacola, FL&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;137&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;137&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;137&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;1/95&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Windmill&#13;    Farms, Kaufman County, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,861&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;55,668&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13; 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text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;49,238&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;11/11&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;T&#13;    Palm Desert, Riverside, CA&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,800&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,800&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,800&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;9/19&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Lacy&#13;    Longhorn, Farmers Branch, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,169&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,169&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;409&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;6/04&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Minivest,&#13;    Dallas, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;7&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;7&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;7&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;4/13&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Nicholson&#13;    Croslin, Dallas, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;184&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(118&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;184&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(118&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;66&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;10/98&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Nicholson&#13;    Mendoza, Dallas, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;80&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(51&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;80&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(51&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;29&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;10/98&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Mercer&#13;    Crossing, Farmers Branch, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;10,966&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;10,966&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;10,966&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;1/08&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;McKinney&#13;    36, Collin County, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;945&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;635&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;161&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(19&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;635&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;142&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;777&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;1/98&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Travis&#13;    Ranch, Kaufman County, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;80&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;80&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;80&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;8/08&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;Dominion&#13;    Tract, Farmers Branch, TX&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,440&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;111&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(135&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,440&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(24&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,416&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;3/99&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;&lt;b&gt;Total&#13;    Land Held for Investment&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;14,806&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;76,843&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#8212;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;14,624&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;(21,464&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;76,843&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;(6,840&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;70,003&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#8212;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;&lt;b&gt;Total&#13;    Properties Held for Investment&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;236,685&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;136,552&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;284,089&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;88,386&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;(31,064&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;136,552&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;341,411&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;477,963&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;$&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&lt;b&gt;90,173&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;REAL&#13;ESTATE AND ACCUMULATED DEPRECIATION&lt;/b&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;As&#13;of December 31, 2019&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars&#13;    in thousands)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 60%; vertical-align: top"&gt;Reconciliation&#13;    of Real Estate&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Balance at January&#13;    1,&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;459,142&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,165,662&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,066,603&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Additions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 32px"&gt;Acquisitions,&#13;    improvements and construction&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;97,554&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;576,232&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;129,483&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Deductions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 32px"&gt;Sale&#13;    of real estate&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(78,733&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,282,752&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(30,424&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Balance at December&#13;    31,&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;477,963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;459,142&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;1,165,662&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Reconciliation of&#13;    Accumulated Depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Balance at January&#13;    1,&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;78,099&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;177,546&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;165,597&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Additions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 32px"&gt;Depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,379&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;22,670&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;24,417&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Deductions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 32px"&gt;Sale&#13;    of real estate&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,305&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(122,117&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(12,468&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Balance at December&#13;    31,&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;90,173&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;78,099&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;177,546&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</srt:RealEstateAndAccumulatedDepreciationDisclosureTextBlock>
    <srt:MortgageLoansOnRealEstateByLoanDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"&gt;&lt;b&gt;SCHEDULE&#13;IV&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;MORTGAGE&#13;LOANS RECEIVABLE&lt;/b&gt;&lt;br /&gt;&#13;&lt;b&gt;December 31, 2019&amp;#160;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"&gt;&lt;b&gt;Description&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"&gt;&lt;b&gt;Interest&#13;    Rate&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"&gt;&lt;b&gt;Final&#13;    Maturity Date&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"&gt;&lt;b&gt;Periodic&#13;    Payment Terms&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"&gt;&lt;b&gt;Prior&#13;    Liens&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"&gt;&lt;b&gt;Face&#13;    Amount of Mortgage&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"&gt;&lt;b&gt;Carrying&#13;    Amount of Mortgage&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"&gt;&lt;b&gt;Principal&#13;    or Loans Subject to Delinquent Principal or Interest&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="20" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars&#13;    in thousands)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 37%; vertical-align: top"&gt;Prospectus&#13;    Endeavors 4, LLC&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 6%; vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 6%; vertical-align: bottom; text-align: center"&gt;Jan-23&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 6%; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 6%; vertical-align: bottom; text-align: right"&gt;5,907&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 6%; vertical-align: bottom; text-align: right"&gt;5,907&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 6%; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Prospectus Endeavors&#13;    6, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Oct-22&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;496&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;496&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Oulan-Chikh Family&#13;    Trust&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;8.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Mar-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;174&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;174&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;H198, LLC&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;6.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Sep-20&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,554&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,554&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;RAI PFBL 2018 Purch&#13;    Fee Note Weatherford&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;525&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Forest Pines&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;5.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Nov-20&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,868&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Spyglass Apartments&#13;    of Ennis, LP&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;5.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Nov-20&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,083&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,288&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bellwether Ridge&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;5.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;May-20&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,429&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,765&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Parc at Windmill&#13;    Farms&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;5.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;May-20&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,066&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;7,602&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Echo Station)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,719&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,794&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,481&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.125in"&gt;100%&#13;    Interest in UH of Temple, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Inwood on the Park/UH of Inwood, LLC)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;22,227&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,462&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,639&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;100% Interest in&#13;    UH of Inwood, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Kensington Park/UH of Kensington, LLC)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,723&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,310&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,933&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;100% Interest in&#13;    UH of Kensington, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,965&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,959&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;100% Interest in&#13;    HFS of Humble, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (31.5% of cash flow)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,756&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8,836&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,369&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest in Unified&#13;    Housing Foundation Inc.&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (68.5% of cash flow)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,965&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,959&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,732&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,953&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Timbers of Terrell)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;7,294&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,702&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,323&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;100% Interest in&#13;    UH of Terrell, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;Unified&#13;    Housing Foundation, Inc. (Trails at White Rock)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;21,712&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,815&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,815&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;100% Interest in&#13;    UH of Harvest Hill III, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;Unified&#13;    Housing Foundation, Inc (2015 Advisory Fee)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,994&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc (2008-2014 Advisory Fee)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,407&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;Unified&#13;    Housing Foundation, Inc (2018 Advisory Fee)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Jun-20&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; 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   &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Jul-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;838&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2018 Refin Fee (Lakeshore&#13;    Villas)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; 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text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Jul-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13; 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   &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Jul-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;839&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2018 Refin Fee (Marquis&#13; 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   &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;432&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2018 Refin Fee (Timbers&#13;    at the Park)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Jul-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;913&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2018 Refin Fee (Trails&#13;    @ White Rock)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13; 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   &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Aug-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;212&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2018 Refin Fee (Bella&#13;    Vista)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13; 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text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Oct-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13; 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text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2017 Fees on Sale&#13;    LSC/SR/PKCR&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Oct-21&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13; 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   &lt;td style="vertical-align: top"&gt;2017 Fees on Profit&#13;    LSC/SR/PKCR&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Walnut Park Crossing)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;340&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;369&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Unified Housing&#13;    Foundation, Inc. (Terraces of Marine Creek/Blue Lake at Marine Creek)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;12.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-32&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;128&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&lt;b&gt;Realty&#13;    Advisors Management, Inc.&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;2.28%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Dec-22&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Interest&#13;    only paid quarterly.&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,387&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,387&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;One Realco Corporation&#13;    &lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;3.00%&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Jan-20&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;10,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;7,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Various related&#13;    party notes&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,553&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Various non-related&#13;    party notes&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;Excess&#13;    cash flow&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;28,989&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double; vertical-align: bottom; text-align: right"&gt;156,185&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="vertical-align: bottom; text-align: right"&gt;Accrued&#13;    interest&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,114&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="vertical-align: bottom; text-align: right"&gt;Allowance&#13;    for estimated losses&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;(13,099&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double; vertical-align: bottom; text-align: right"&gt;156,200&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;(1)&#13;Fully reserved&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;MORTGAGE&#13;LOANS&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;&lt;b&gt;As&#13;of December 31,&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars&#13;    in thousands)&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 60%; vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Balance at January&#13;    1,&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;126,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;127,865&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;143,601&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Additions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;New&#13;    mortgage loans&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;49,671&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,123&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,741&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Increase&#13;    (decrease) of interest receivable on mortgage loans&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,429&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,388&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;581&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Deductions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Amounts&#13;    received&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(30,245&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(8,541&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(32,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Non-cash&#13;    reductions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;(1,713&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Balance at December&#13;    31,&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;156,200&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;126,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;127,865&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&lt;/p&gt;</srt:MortgageLoansOnRealEstateByLoanDisclosureTextBlock>
    <us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Basis&#13;of presentation.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;The Company presents its financial statements in accordance with generally&#13;accepted accounting principles in the United States (&amp;#8220;GAAP&amp;#8221;). The accompanying Consolidated Financial Statements include&#13;our accounts, our subsidiaries, generally all of which are wholly-owned, and all entities in which we have a controlling interest.&#13;Arrangements that are not controlled through voting or similar rights are accounted for as a Variable Interest Entity (VIE), in&#13;accordance with the provisions and guidance of ASC Topic 810 &amp;#8220;Consolidation&amp;#8221;, whereby we have determined that we are&#13;a primary beneficiary of the VIE and meet certain criteria of a sole general partner or managing member as identified in accordance&#13;with Emerging Issues Task Force (&amp;#8220;EITF&amp;#8221;) Issue 04-5, Investor&amp;#8217;s Accounting for an Investment in a Limited Partnership&#13;when the Investor is the Sole General Partner and the Limited Partners have Certain Rights (&amp;#8220;EITF 04-5&amp;#8221;). VIEs are&#13;generally entities that lack sufficient equity to finance their activities without additional financial support from other parties&#13;or whose equity holders as a group lack adequate decision making ability, the obligation to absorb expected losses or residual&#13;returns of the entity, or have voting rights that are not proportional to their economic interests. The primary beneficiary generally&#13;is the entity that provides financial support and bears a majority of the financial risks, authorizes certain capital transactions,&#13;or makes operating decisions that materially affect the entity&amp;#8217;s financial results. All significant intercompany balances&#13;and transactions have been eliminated in consolidation.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including, but&#13;not limited to: the amount and characteristics of our investment; the obligation or likelihood for us or other investors to provide&#13;financial support; our and the other investors&amp;#8217; ability to control or significantly influence key decisions for the VIE;&#13;and the similarity with and significance to the business activities of us and the other investors. Significant judgments related&#13;to these determinations include estimates about the current future fair values and performance of real estate held by these VIEs&#13;and general market conditions.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;For&#13;entities in which we have less than a controlling financial interest or entities where it is not deemed to be the primary beneficiary,&#13;the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of&#13;these entities is included in consolidated net income. Our investment in Gruppa Florentina, LLC is accounted for under the equity&#13;method.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;Company in accordance with the VIE guidance in ASC 810 &amp;#8220;Consolidations&amp;#8221; consolidates ten multifamily residential properties&#13;at December 31, 2019 and&amp;#160;nine at December 31, 2018, located throughout the United States ranging from 1,657 units to 1,489&#13;units.&amp;#160; Assets totaling approximately $478&amp;#160;million and approximately $464 million at December 31, 2019 and 2018, respectively,&amp;#160;are&#13;consolidated and included in &amp;#8220;Real estate, at cost&amp;#8221; on the balance sheet and are all collateral for their respective&#13;mortgage notes payable, none of which are recourse to the partnership in which they are in or to the Company.&amp;#160;&lt;/p&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
    <us-gaap:RealEstatePolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Real&#13;estate, depreciation, and impairment&lt;/i&gt;.&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Real estate assets are stated at the lower of depreciated&#13;cost or fair value, if deemed impaired. Major replacements and betterments are capitalized and depreciated over their estimated&#13;useful lives. Depreciation is computed on a straight-line basis over the useful lives of the properties (buildings and improvements&amp;#8212;10-40&#13;years; furniture, fixtures and equipment&amp;#8212;5-10 years). We continually evaluate the recoverability of the carrying value of&#13;its real estate assets using the methodology prescribed in ASC Topic 360, &amp;#8220;Property, Plant and Equipment,&amp;#8221; Factors&#13;considered by management in evaluating impairment of its existing real estate assets held for investment include significant declines&#13;in property operating profits, annually recurring property operating losses and other significant adverse changes in general market&#13;conditions that are considered permanent in nature. Under ASC Topic 360, a real estate asset held for investment is not considered&#13;impaired if the undiscounted, estimated future cash flows of an asset (both the annual estimated cash flow from future operations&#13;and the estimated cash flow from the theoretical sale of the asset) over its estimated holding period are in excess of the asset&amp;#8217;s&#13;net book value at the balance sheet date. If any real estate asset held for investment is considered impaired, a loss is provided&#13;to reduce the carrying value of the asset to its estimated fair value.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Any&#13;properties that are treated as &amp;#8220;subject to sales contract&amp;#8221; on the Consolidated Balance Sheets and are listed in detail&#13;in Schedule III, &amp;#8220;Real Estate and Accumulated Depreciation&amp;#8221; are those in which we have not recognized the legal sale&#13;according to the guidance in ASC 360-20 due to various factors, disclosed in each sale transaction under Item 1 Significant Real&#13;Estate Acquisitions/Dispositions and Financing. Any sale transaction where the guidance reflects that a sale had not occurred,&#13;the asset involved in the transaction, including the debt and property operations, remained on the books of the Company. We continue&#13;to charge depreciation to expense as a period costs for the property until such time as the property has been classified as held&#13;for sale in accordance with guidance reflected in ASC 360-10-45 &amp;#8220;Impairment or Disposal of Long-Lived Assets&amp;#8221;.&lt;/p&gt;</us-gaap:RealEstatePolicyTextBlock>
    <us-gaap:RealEstateHeldForDevelopmentAndSalePolicy contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Real&#13;estate held for sale&lt;/i&gt;.&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;We classify properties as held for sale when certain criteria are met in accordance&#13;with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance&#13;sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported&#13;at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. We did not have any real estate&#13;assets classified as held for sale at December 31, 2019 or 2018.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Effective&#13;as of January 1, 2015, we adopted the revised guidance in Accounting Standards Update No.&amp;#160;2014-08 regarding discontinued&#13;operations. For sales of real estate or assets classified as held for sale after January 1, 2015, we will evaluate whether a disposal&#13;transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine&#13;if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued&#13;operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as&#13;discontinued operations for all periods presented; if not, it will be presented in continuing operations.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Any&#13;properties that are treated as &amp;#8220;subject to sales contract&amp;#8221; on the Consolidated Balance Sheets and are listed in detail&#13;in Schedule III, &amp;#8220;Real Estate and Accumulated Depreciation&amp;#8221; are those in which we have not recognized the legal sale&#13;according to the guidance in ASC 360-20 due to various factors, disclosed in Item 1 &amp;#8220;Significant Real Estate Acquisitions/Dispositions&#13;and Financing.&amp;#8221; Any sale transaction where the guidance reflects that a sale had not occurred, the asset involved in the&#13;transaction, including the debt, if appropriate, and property operations, remained on the books of the Company. We continue to&#13;charge depreciation to expense as a period costs for the property until such time as the property has been classified as held&#13;for sale in accordance with guidance reflected in ASC 360-10-45 &amp;#8220;Impairment or Disposal of Long-Lived Assets.&amp;#8221;&lt;/p&gt;</us-gaap:RealEstateHeldForDevelopmentAndSalePolicy>
    <us-gaap:CapitalizationOfInternalCostsPolicy contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Cost&#13;capitalization&lt;/i&gt;.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; The cost of buildings and improvements includes the purchase price of property,&#13;legal fees and other acquisition costs. Costs directly related to planning, developing, initial leasing and constructing a property&#13;are capitalized and classified as Real Estate in the Consolidated Balance Sheets. Capitalized development costs include interest,&#13;property taxes, insurance, and other direct project costs incurred during the period of development.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A&#13;variety of costs are incurred in the acquisition, development and leasing of properties. After determination is made to capitalize&#13;a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project&#13;is substantially complete and capitalization must cease involves a degree of judgment. Our capitalization policy on development&#13;properties is guided by ASC Topic 835-20 &amp;#8220;Interest &amp;#8211; Capitalization of Interest&amp;#8221; and ASC Topic 970 &amp;#8220;Real&#13;Estate - General&amp;#8221;. The costs of land and buildings under development include specifically identifiable costs. The capitalized&#13;costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest&#13;costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a&#13;construction project as substantially completed and held available for occupancy upon the receipt of certificates of occupancy,&#13;but no later than one year from cessation of major construction activity. We cease capitalization on the portion (1)&amp;#160;substantially&#13;completed and (2)&amp;#160;occupied or held available for occupancy, and we capitalize only those costs associated with the portion&#13;under construction.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;We&#13;capitalize leasing costs which include commissions paid to outside brokers, legal costs incurred to negotiate and document a lease&#13;agreement and any internal costs that may be applicable. We allocate these costs to individual tenant leases and amortize them&#13;over the related lease term.&lt;/p&gt;</us-gaap:CapitalizationOfInternalCostsPolicy>
    <us-gaap:FairValueMeasurementPolicyPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Fair&#13;value measurement&lt;/i&gt;&lt;/b&gt;&lt;i&gt;.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;We apply the guidance in ASC Topic 820, &amp;#8220;Fair Value Measurements&#13;and Disclosures,&amp;#8221; to the valuation of real estate assets. These provisions define fair value as the price that would be&#13;received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date,&#13;establish a hierarchy that prioritizes the information used in developing fair value estimates and require disclosure of fair&#13;value measurements by level within the fair value hierarchy. The hierarchy gives the highest priority to quoted prices in active&#13;markets (Level 1 measurements) and the lowest priority to unobservable data (Level 3 measurements), such as the reporting entity&amp;#8217;s&#13;own data.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date&#13;and includes three levels defined as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 6%; white-space: nowrap"&gt;Level&amp;#160;1&lt;/td&gt;&#13;    &lt;td style="width: 2%; white-space: nowrap"&gt;&amp;#160;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="width: 92%; text-align: justify"&gt;Unadjusted&#13;    quoted prices for identical and unrestricted assets or liabilities in active markets.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="white-space: nowrap"&gt;Level&amp;#160;2&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap"&gt;&amp;#160;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Quoted prices for&#13;    similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly&#13;    or indirectly, for substantially the full term of the financial instrument.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="white-space: nowrap"&gt;Level&amp;#160;3&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap"&gt;&amp;#160;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;Unobservable inputs&#13;    that are significant to the fair value measurement.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A&#13;financial instrument&amp;#8217;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant&#13;to the fair value measurement.&lt;/p&gt;</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
    <arl:RelatedPartiesPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Related&#13;parties&lt;/i&gt;.&amp;#160;&amp;#160;&lt;/b&gt;We apply ASC Topic 805, &amp;#8220;Business Combinations&amp;#8221;, to evaluate business relationships. Related&#13;parties are persons or entities who have one or more of the following characteristics, which include entities for which investments&#13;in their equity securities would be required, trust for the benefit of persons including principal owners of the entities and&#13;members of their immediate families, management personnel of the entity and members of their immediate families and other parties&#13;with which the entity may deal if one party controls or can significantly influence the decision making of the other to an extent&#13;that one of the transacting parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.&lt;/p&gt;</arl:RelatedPartiesPolicyTextBlock>
    <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Recognition&#13;of revenue.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Our revenues, which are composed largely of rental income, include rents reported&#13;on a straight-line basis over the lease term. In accordance with ASC 805 &amp;#8220;Business Combinations&amp;#8221;, we recognize rental&#13;revenue of acquired in-place &amp;#8220;above-&amp;#8221; and &amp;#8220;below-market&amp;#8221; leases at their fair values over the terms of&#13;the respective leases.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Reimbursements&#13;of operating costs, as allowed under most of our commercial tenant leases, consist of amounts due from tenants for common area&#13;maintenance, real estate taxes and other recoverable costs, and are recognized as revenue in the period in which the recoverable&#13;expenses are incurred. We record these reimbursements on a &amp;#8220;gross&amp;#8221; basis, since we generally are the primary obligor&#13;with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier and have the&#13;credit risk with respect to paying the supplier.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Rental&#13;income for residential property leases is recorded when due from residents and is recognized monthly as earned, which is not materially&#13;different than on a straight-line basis as lease terms are generally for periods of one year or less. For hotel properties, revenues&#13;for room sales and guest services are recognized as rooms occupied and services rendered. An allowance for doubtful accounts is&#13;recorded for all past due rents and operating expense reimbursements considered to be uncollectible.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Sales&#13;and the associated gains or losses of real estate assets are recognized in accordance with the provisions of ASC Topic 360-20,&#13;&amp;#8220;Property, Plant and Equipment &amp;#8211; Real Estate Sale&amp;#8221;. The specific timing of a sale is measured against various&#13;criteria in ASC 360-20 related to the terms of the transaction and any continuing involvement in the form of management or financial&#13;assistance associated with the properties. If the sales criteria for the full accrual method are not met, the Company defers some&#13;or all of the gain recognition and accounts for the continued operations of the property by applying the finance, leasing, deposit,&#13;installment or cost recovery methods, as appropriate, until the sales criteria are met.&lt;/p&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
    <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Foreign&#13;currency translation.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Foreign currency denominated assets and liabilities of subsidiaries with&#13;local functional currencies are translated to United States dollars at year-end exchange rates. The effects of translation are&#13;recorded in the cumulative translation component of shareholders&amp;#8217; equity. Subsidiaries with a United States dollar functional&#13;currency re-measure monetary assets and liabilities at year-end exchange rates and non-monetary assets and liabilities at historical&#13;exchange rates. The effects of re-measurement are included in income. Exchange gains and losses arising from transactions denominated&#13;in foreign currencies are translated at average exchange rates.&lt;/p&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
    <us-gaap:LoansAndLeasesReceivableNonperformingLoanAndLeasePolicy contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Non-performing&#13;notes receivable.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;ARL considers a note receivable to be non-performing when the maturity date has passed&#13;without principal repayment and the borrower is not making interest payments in accordance with the terms of the agreement.&lt;/p&gt;</us-gaap:LoansAndLeasesReceivableNonperformingLoanAndLeasePolicy>
    <arl:InterestRecognitionOnNotesReceivablePolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Interest recognition on notes receivable.&amp;#160;&amp;#160;&lt;/i&gt;&lt;/b&gt;We&#13;record interest income as earned in accordance with the terms of the related loan agreements.&lt;/p&gt;</arl:InterestRecognitionOnNotesReceivablePolicyTextBlock>
    <us-gaap:LoansAndLeasesReceivableAllowanceForLoanLossesPolicy contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Allowance&#13;for estimated losses.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;We assess the collectability of notes receivable on a periodic basis, of which&#13;the assessment consists primarily of an evaluation of cash flow projections of the borrower to determine whether estimated cash&#13;flows are sufficient to repay principal and interest in accordance with the contractual terms of the note. We recognize impairments&#13;on notes receivable when it is probable that principal and interest will not be received in accordance with the contractual terms&#13;of the loan. The amount of the impairment to be recognized generally is based on the fair value of the partnership&amp;#8217;s real&#13;estate that represents the primary source of loan repayment. See Note 5 &amp;#8220;Notes and Interest Receivable&amp;#8221; for details&#13;on our notes receivable.&lt;/p&gt;</us-gaap:LoansAndLeasesReceivableAllowanceForLoanLossesPolicy>
    <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Cash equivalents.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;For&#13;purposes of the Consolidated Statements of Cash Flows, all highly liquid investments purchased with an original maturity of three&#13;months or less are considered to be cash equivalents.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
    <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Restricted&#13;cash.&amp;#160;&amp;#160;&lt;/i&gt;&lt;/b&gt;Restricted cash is comprised primarily of cash balances held in escrow by financial institutions under&#13;the terms of certain secured notes payable and certain unsecured bonds payable.&amp;#160;&lt;/p&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
    <us-gaap:ConcentrationRiskCreditRisk contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Concentration&#13;of credit risk.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;The Company maintains its cash balances at commercial banks and through investment companies,&#13;the deposits of which are insured by the Federal Deposit Insurance Corporation (FDIC). At December 31, 2019 and 2018, the Company&#13;maintained balances in excess of the insured amount.&lt;/p&gt;</us-gaap:ConcentrationRiskCreditRisk>
    <us-gaap:EarningsPerSharePolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;&lt;i&gt;Earnings&#13;per share.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;Income (loss) per share is presented in accordance with ASC 620 &amp;#8220;Earnings per&#13;Share&amp;#8221;. Income (loss) per share is computed based upon the weighted average number of shares of common stock outstanding&#13;during each year.&lt;/p&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
    <us-gaap:UseOfEstimates contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Use&#13;of estimates.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;In the preparation of Consolidated Financial Statements in conformity with&#13;GAAP, it is necessary for management to make estimates and assumptions that affect the reported amounts of assets and liabilities&#13;and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts&#13;of revenues and expense for the year ended. Actual results could differ from those estimates.&lt;/p&gt;</us-gaap:UseOfEstimates>
    <us-gaap:IncomeTaxPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Income&#13;taxes.&lt;/i&gt;&lt;/b&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt;The Company is a &amp;#8220;C&amp;#8221; corporation for U.S. federal income tax purposes. For&#13;tax periods ending before August 31, 2012, the Company filed an annual consolidated income tax return with TCI and IOR and their&#13;subsidiaries. ARL was the common parent for the consolidated group. After that date, the Company and the rest of the ARL group&#13;joined the MRHI consolidated group for tax purposes. The income tax expense (benefit) for the 2012 tax period in the accompanying&#13;financial statement was calculated under a tax sharing and compensating agreement between ARL, TCI and IOR. That agreement continued&#13;until August 31, 2012, at which time a new tax sharing and compensating agreement was entered into by ARL, TCI, IOR and MRHI for&#13;the remainder of 2012 and subsequent years. The agreement specifies the manner in which the group will share the consolidated&#13;tax liability and also how certain tax attributes are to be treated among members of the group.&lt;/p&gt;</us-gaap:IncomeTaxPolicyTextBlock>
    <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&lt;i&gt;Recent&#13;accounting pronouncements&lt;/i&gt;&lt;/b&gt;&lt;i&gt;.&lt;/i&gt;&amp;#160;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"&gt;In&#13;December 2019, the FASB issued ASU 2019-12,&amp;#160;&lt;i&gt;Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.&amp;#160;&lt;/i&gt;The&#13;amendments in this Update simplify the accounting for income taxes by removing certain exceptions from ASC 740. Also, the amendments&#13;in this Update simplify the accounting for income taxes by requiring that an entity recognize a franchise tax (or similar tax)&#13;that is partially based on income as an income-based tax, requiring that an entity evaluate when a step up in the tax basis of&#13;goodwill should be considered part of the business combination, and other targeted changes. The effective date of the amendments&#13;is for fiscal years, and interim periods within those years, beginning after December 15, 2020. The Company is currently evaluating&#13;the impact that the adoption of ASU 2019-12 may have on its consolidated financial statements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"&gt;In&#13;October 2018, the FASB issued ASU 2018-17,&amp;#160;&lt;i&gt;Consolidation (Topic 810): Targeted Improvements to Related Party Guidance&#13;for Variable Interest Entities&lt;/i&gt;. This standard is intended to improve the accounting when considering indirect interests held&#13;through related parties under common control for determining whether fees paid to decision makers and service providers are variable&#13;interests. The effective date of the amendments is for fiscal years, and interim periods within those years, beginning after December&#13;15, 2019. The new standard must be adopted retrospectively with early adoption permitted. The Company does not expect the adoption&#13;of this ASU to have a material impact on its consolidated financial statements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;August 2018, the FASB issued ASU 2018-13,&amp;#160;&lt;i&gt;Fair Value Measurement (Topic 820): Disclosure Framework&amp;#8212;Changes to the&#13;Disclosure Requirements for Fair Value Measurement&amp;#160;&lt;/i&gt;that eliminates, adds and modifies certain disclosure requirements&#13;for fair value measurements. The effective date of the standard is for fiscal periods, and interim periods within those years,&#13;beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of&#13;significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement&#13;uncertainty should be applied prospectively. All other amendments should be applied retrospectively. Early adoption is permitted.&#13;The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In&#13;February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard amends the existing lease accounting guidance&#13;and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that&#13;have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar&#13;to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods,&#13;but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required&#13;to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable&#13;period presented, with an option to elect certain transition relief. ASU 2016-02 was effective for reporting periods beginning&#13;after December 15, 2018. The adoption of ASU 2016-02 did not have a material impact on the Company&amp;#8217;s financial position&#13;and results of operations.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;In&#13;May 2014, Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) No. 2014-09 (&amp;#8220;ASU 2014-09&amp;#8221;), &amp;#8220;Revenue from Contracts&#13;with Customers,&amp;#8221; was issued. This new guidance established a new single comprehensive revenue recognition model and provides&#13;for enhanced disclosures. Under the new policy, the nature, timing and amount of revenue recognized for certain transactions could&#13;differ from those recognized under existing accounting guidance. This new standard does not affect revenue recognized under lease&#13;contracts. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017. As the majority of the Company&amp;#8217;s&#13;revenue is from rental revenue related to leases, the Company has determined that the adoption of this Standard was immaterial&#13;to the consolidated financial statements and related disclosures.&lt;/p&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
    <arl:ScheduleOfApartmentProjectsInDevelopmentTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;At December 31, 2019, our apartment projects in development included (dollars in thousands):&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Property&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Location&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;No. of Units&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Costs to Date&amp;#160;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Total Projected Costs&amp;#160;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 34%; vertical-align: bottom; white-space: nowrap"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;Lakeside Lofts apartments&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 25%; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;Farmers Branch, TX&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;249&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&amp;#160;&amp;#160;&amp;#160;50,357&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;80,622&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; white-space: nowrap"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;Total&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;249&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;&amp;#160;50,357&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;80,622&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(1) Costs include construction hard costs, construction soft costs and loan borrowing costs.&amp;#160;&lt;/font&gt;&#13;&lt;/p&gt;</arl:ScheduleOfApartmentProjectsInDevelopmentTableTextBlock>
    <us-gaap:RealEstateInvestmentFinancialStatementsDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;At&#13;December 31, 2019 and 2018, ARL&amp;#8217;s real estate investment is comprised of the following (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 70%; vertical-align: bottom; white-space: nowrap"&gt;Apartments&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;156,173&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;126,274&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Apartments&#13;    under construction&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;22,363&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;21,916&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Commercial&#13;    properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;229,424&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;224,162&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Land&#13;    held for development&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;62,037&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;83,641&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Real&#13;    estate subject to sales contract&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;7,966&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,149&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&#13;    real estate, at cost, less impairment&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;477,963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;459,142&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Less&#13;    accumulated deprecation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(90,173&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(78,099&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&#13;    real estate, net of depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;387,790&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;381,043&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:RealEstateInvestmentFinancialStatementsDisclosureTextBlock>
    <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Depreciation&#13;is computed on a straight line basis over the estimated useful lives of the assets as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 90%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.5in"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="width: 50%; text-align: left; text-indent: 0px"&gt;Land&#13;    improvements&lt;/td&gt;&#13;    &lt;td style="width: 50%; text-align: left; text-indent: 0px"&gt;25&#13;    to 40 years&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Buildings&#13;    and improvements&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;10&#13;    to 40 years&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Tenant&#13;    improvements&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Shorter&#13;    of useful life or terms of related lease&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;Furniture,&#13;    fixtures and equipment&lt;/td&gt;&#13;    &lt;td style="text-align: left; text-indent: 0px"&gt;3&#13;    to 7 years&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
    <us-gaap:ScheduleOfRestrictedCashAndCashEquivalentsTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The&#13;following is a reconciliation of the Company&amp;#8217;s cash and cash equivalents, and restricted cash to the total presented in&#13;the consolidated statement of cash flows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 70%; vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Cash&#13;    and cash equivalents&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;51,228&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;36,428&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Restricted&#13;    cash (cash held in escrow)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;15,540&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;37,928&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Restricted&#13;    cash (certificate of deposits)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,759&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;9,687&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Restricted&#13;    cash (held with Trustee)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12,784&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;22,572&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 0.25in"&gt;Total&#13;    cash, cash equivalents and restricted cash&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;83,311&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;106,615&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfRestrictedCashAndCashEquivalentsTextBlock>
    <us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A&#13;majority of the notes receivable provide for principal to be paid at maturity (dollars in thousands).&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&lt;b&gt;Maturity&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&lt;b&gt;Interest&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Borrower&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Date&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Rate&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Amount&#13;    &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Security&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 42%; vertical-align: bottom; white-space: nowrap"&gt;Performing&#13;    loans:&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 17%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Prospectus&#13;    Endeavors 4, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;01/23&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Prospectus&#13;    Endeavors 6, LLC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/22&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;496&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Oulan-Chikh&#13;    Family Trust&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;03/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;8.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;174&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;H198,&#13;    LLC (McKinney Ranch Land)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;09/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;4,554&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Forest&#13;    Pines&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;11/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2,868&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Spyglass&#13;    Apartments of Ennis, LP&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;11/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5,288&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Bellwether&#13;    Ridge&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;05/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,765&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13; 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white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,302&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Plum&#13;    Tree&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;413&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13; 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text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;RNC&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;09/24&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;8,802&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Revolving&#13;    Line of Credit Steeple Crest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6,665&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;RAI&#13;    PFBL 2018 Purch Fee Note Weatherford&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;525&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Echo Station) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,481&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Inwood on the Park) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,639&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Kensington Park) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,933&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6,369&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2,732&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,953&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;4,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Reserve at White Rock Phase I) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Reserve at White Rock Phase II) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Timbers of Terrell) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,323&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Tivoli) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Trails at White Rock) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,815&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;10,401&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;06/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;5,314&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;03/22&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;4,782&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Lakeshore Villas) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;838&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Limestone Ranch) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;773&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Marquis at Vista Ridge) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;839&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Timbers at the Park) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;432&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Trails at White Rock) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;07/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;913&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. (Bella Vista) &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;08/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;212&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Secured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;10/21&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;6,831&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Unified&#13;    Housing Foundation, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/32&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;12.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;497&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Realty&#13;    Advisors Management, Inc. &lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;12/22&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;2.28&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;20,387&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;One&#13;    Realco Corporation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;01/20&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3.00&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;%&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;7,000&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Unsecured&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Other&#13;    related party notes &lt;sub&gt;(1) (2)&lt;/sub&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;3,553&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Various&#13;    secured interests&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Other&#13;    non-related party notes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;Various&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;10,276&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;Various&#13;    secured interests&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Accrued&#13;    interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;13,114&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;&lt;b&gt;Total&#13;    Performing&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;169,299&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px"&gt;Allowance&#13;    for estimated losses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;(13,099&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;&lt;b&gt;Total&#13;    &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 2pt double; text-align: right"&gt;&lt;b&gt;156,200&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin: 0px"&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td style="width: 2%"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td style="width: 98%; text-align: justify"&gt;Related&#13;    party notes.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top"&gt;&#13;    &lt;td&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: justify"&gt;An allowance was&#13;    taken for estimated losses at full value of note.&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
    <arl:ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The&#13;following is a summary of the financial position and results of operations from our investees (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;As&#13;    of December 31,&lt;/b&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 60%; vertical-align: top"&gt;&lt;b&gt;&lt;u&gt;SUMMARY&#13;    OF FINANCIAL POSITION&lt;/u&gt;:&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Real estate, net&#13;    of accumulated depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,041&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;13,810&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,587&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Notes receivable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,238&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,724&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,708&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;32,566&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;32,176&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Notes payable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(10,195&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,287&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(17,845&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other liabilities&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,328&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,320&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,991&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Shareholders&amp;#8217;&#13;    equity/partners capital&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(41,302&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(39,007&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(23,651&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;For&#13;    the Year Ended December 31,&lt;/b&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;&lt;u&gt;SUMMARY OF&#13;    OPERATIONS&lt;/u&gt;:&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; padding-bottom: 1pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 61%; vertical-align: top"&gt;Revenue&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;55,241&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;53,834&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;38,747&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,456&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,456&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,279&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(50,861&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(49,647&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(35,410&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(621&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(673&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,065&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from&#13;    continuing operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,303&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;993&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;2,303&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;2,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;993&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Company&amp;#8217;s&#13;    20% proportionate share of earnings&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;461&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;412&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;199&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</arl:ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock>
    <us-gaap:ScheduleOfDebtTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Below is a summary of our notes and interest&#13;payable as of December 31, 2019 and 2018 (dollars in thousands):&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.15in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 70%; vertical-align: bottom; white-space: nowrap"&gt;Apartments&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;120,024&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;94,759&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Apartments under Construction&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;9,017&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;14,402&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Commercial&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;92,838&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;136,327&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Land&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;19,128&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;27,520&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Corporate and other notes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;20,429&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;22,527&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total notes payable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;261,436&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;295,535&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Less: unamortized deferred borrowing costs&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(7,342&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;(9,428&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total outstanding notes payable, net&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;254,094&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;286,107&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Accrued Interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;779&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;861&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total notes payable, net and accrued interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;254,873&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;286,968&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfDebtTableTextBlock>
    <srt:ContractualObligationFiscalYearMaturityScheduleTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The following table summarizes our contractual&#13;obligations for principal payments as of December 31, 2019 (dollars in thousands):&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 30%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.15in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Year &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Amount &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 58%; vertical-align: bottom; white-space: nowrap"&gt;2020&lt;/td&gt;&#13;    &lt;td style="width: 3%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 3%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 33%; vertical-align: bottom; white-space: nowrap; text-align: right"&gt;34,304&lt;/td&gt;&#13;    &lt;td style="width: 3%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2021&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;55,393&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2022&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;13,437&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2023&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;36,770&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;2024&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; text-align: right"&gt;1,995&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Thereafter&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right"&gt;119,537&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap"&gt;Total&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 2pt double; text-align: right"&gt;261,436&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</srt:ContractualObligationFiscalYearMaturityScheduleTableTextBlock>
    <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The aggregate maturities of the bonds are as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 60%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: left"&gt;&lt;b&gt;Year&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;Aggregate &lt;br /&gt;Maturities&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 81%; vertical-align: top"&gt;2020&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 16%; vertical-align: bottom; text-align: right"&gt;23,148&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2021&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;35,301&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;2022&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;35,301&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2023&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;114,873&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;2024&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,153&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Thereafter&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;12,213&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;232,989&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
    <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Fees,&#13;expenses, and revenue paid to and/or received from our advisor:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 95%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.5in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;For&#13;    the years ended December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; text-align: center"&gt;(dollars&#13;    in thousands)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 61%; vertical-align: top"&gt;Fees:&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Advisory&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,612&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,475&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,082&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Mortgage&#13;    brokerage and equity refinancing&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;852&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,712&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Net&#13;    income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;357&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;631&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;250&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;6,969&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;12,958&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;13,044&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other Expense:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Cost&#13;    reimbursements&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,720&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,240&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Interest&#13;    paid (received)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(4,686&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,370&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,195&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;(421&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;1,350&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;2,045&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Revenue:&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Rental&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;1,311&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;1,178&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;783&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;Fees&#13;paid to Regis and related parties:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 97%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.15in"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;For&#13;    the years ended December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: bottom; text-align: center"&gt;(dollars&#13;    in thousands)&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 61%; vertical-align: bottom"&gt;Fees:&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; padding-left: 16px"&gt;Property&#13;    acquisition&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;318&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;32,008&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,128&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; padding-left: 16px"&gt;Property&#13;    management, construction management and leasing commissions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;165&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;540&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: bottom; padding-left: 16px"&gt;Real&#13;    estate brokerage&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;71&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,068&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,369&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;554&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;34,616&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;11,460&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
    <arl:ScheduleOfRelatedPartyTransactions1TableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The following table reconciles the beginning&#13;and ending balances of accounts receivable from and (accounts payable) to related parties (Pillar) as of December 31, 2019 and&#13;2018:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 70%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"&gt;&lt;b&gt;Pillar&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 82%; vertical-align: top"&gt;Related party receivable, December 31, 2018&lt;/td&gt;&#13;    &lt;td style="width: 2%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 14%; vertical-align: bottom; text-align: right"&gt;70,377&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Cash transfers&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;38,139&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Advisory fees&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,612&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Net income fee&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(357&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Cost reimbursements&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Interest income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,686&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Notes receivable purchased&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(28,669&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Fees and commissions&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(71&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Expenses (paid) received by Advisor&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;10,521&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Financing (mortgage payments)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(299&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Sales/purchases Commission&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(318&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 16px"&gt;Intercompany property transfers&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,864&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Related party receivable, December 31, 2019&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right"&gt;85,996&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</arl:ScheduleOfRelatedPartyTransactions1TableTextBlock>
    <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Presented below is the Company&amp;#8217;s reportable&#13;segments&amp;#8217; operating income including segment assets and expenditures for the years 2019, 2018 and 2017 (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;For the Twelve Months Ended December 31, 2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Commercial &lt;br /&gt;Properties&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 35%; vertical-align: top"&gt;Rental and other property revenues&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;32,707&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;15,257&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;6&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;47,970&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Property operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(15,805&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(8,375&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(735&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(779&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(25,694&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(10,229&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,150&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(13,379&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Mortgage and loan interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,018&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,069&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,301&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(27,472&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(39,860&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss on debt extinguishment&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,219&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,219&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,955&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,955&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss on the sale of income producing property&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,272&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,272&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Segment operating (loss) income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(5,564&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(417&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;13,236&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(2,290&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;4,965&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Capital expenditures&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,257&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,001&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,489&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,747&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Real estate assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;229,424&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;178,536&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;70,003&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;477,963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Property Sales&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Sales price&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,096&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;30,012&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,108&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Cost of sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,176&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(14,740&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(17,916&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;15,272&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;15,192&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;For the Twelve Months Ended December 31, 2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Commercial &lt;br /&gt;Properties&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 35%; vertical-align: top"&gt;Operating revenue&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;33,113&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;87,832&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;1&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;10&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;120,956&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(16,252&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(42,134&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(645&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(556&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(59,587&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation and amortization&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,530&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(13,140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(22,670&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Mortgage and loan interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,663&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(20,671&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(636&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(37,093&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(66,063&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;21,645&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;21,645&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Segment operating income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(332&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;11,887&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;16,124&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(15,994&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;11,685&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Capital expenditures&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8,246&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;16,953&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;25,199&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;153,014&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;143,500&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;84,529&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;381,043&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Property Sales&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Sales price&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,313&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8,512&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;43,311&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;54,136&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Cost of sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(2,313&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(8,512&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(25,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(36,732&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;17,404&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; text-align: left"&gt;&lt;b&gt;For the Twelve Months Ended December 31, 2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Commercial &lt;br /&gt;Properties&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Land&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Other&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 35%; vertical-align: top"&gt;Operating revenue&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;33,286&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;92,807&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;111&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;17&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;126,221&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(18,549&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(43,677&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(878&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(987&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(64,091&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Depreciation and amortization&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,358&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(16,354&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(25,679&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Mortgage and loan interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,527&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(22,347&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,945&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(34,352&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(66,171&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Interest income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,941&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;18,941&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale of income producing properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,391&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,547&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;16,698&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;4,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;4,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Segment operating income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;243&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;23,189&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;3,719&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(16,348&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;10,803&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Capital expenditures&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,817&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,402&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;609&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,806&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;137,157&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;727,508&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;123,452&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;988,117&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Property Sales&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Sales price&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,050&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;29,969&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;35,019&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Cost of sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(2,659&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(23,538&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(26,197&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Recognized prior deferred gain&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;2,391&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;6,431&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;21,582&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
    <us-gaap:ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The table below reconciles the segment information to the corresponding&#13;amounts in the Consolidated Statements of Operations:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;For the Years Ended December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 61%; vertical-align: top; padding-left: 0.25in; text-indent: -0.25in"&gt;Segment operating income&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;4,965&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;11,685&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;10,803&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.25in; text-indent: -0.25in"&gt;Other non-segment items of income (expense)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;General and administrative&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(13,336&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(12,708&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,691&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Net income fee to related party&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(357&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(631&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(250&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Advisory fee to related party&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,612&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,475&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,082&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Other income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,018&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;28,993&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,082&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Gain on disposition of 50% interest in VAA&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;154,126&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Foreign currency translation (loss) gain&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(15,108&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,399&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,536&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Loss from joint venture&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(2,774&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;44&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Loss on sale of investments&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(331&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;Earnings from unconsolidated investees&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;461&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,469&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;309&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; padding-bottom: 1pt; text-align: left"&gt;Income tax expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,210&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(180&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.25in; text-indent: -0.25in"&gt;Net (loss) income from continuing operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(21,743&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;182,692&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(8,876&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock>
    <us-gaap:ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The table below reflects the reconciliation&#13;of the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;As of December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 61%; vertical-align: top"&gt;Segment assets&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;387,790&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;381,043&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;988,117&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Investments in unconsolidated investees&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;67,655&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;76,001&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,396&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Notes and interest receivable&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;156,200&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;126,058&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;112,095&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;218,996&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;243,047&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;190,112&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total assets&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;830,641&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;826,149&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;1,296,720&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock>
    <us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The following is a tabulation of quarterly&#13;results of operations for the years 2019, 2018 and 2017. Quarterly results presented differ from those previously reported in ARL&amp;#8217;s&#13;Form 10-Q due to the reclassification of the operations of properties sold or held for sale to discontinued operations in accordance&#13;with ASC topic 360:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Three Months Ended 2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;March 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;June 30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;September 30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars in thousands, except share and per share amounts) &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 52%; vertical-align: top"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating revenues&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,929&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,840&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,943&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,258&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;13,664&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;16,217&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;13,809&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;15,688&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating loss&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,735&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(4,377&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,866&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,430&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(6,963&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,927&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(12,723&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,914&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss)&amp;#160; before gain on sales, non-contolling interest, and taxes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(8,698&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,304&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(14,589&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(7,344&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss on sale of income producing properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(80&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,216&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,517&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;5,139&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;5,400&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net loss from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(6,482&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,867&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(9,450&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,944&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net loss&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,482&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,867&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,450&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,944&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: net (income) attributable to non-controlling interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;335&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,089&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1,879&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,482&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(6,147&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(2,778&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(7,571&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;538&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;PER SHARE DATA&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per share - basic&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.41&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.24&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.12&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss) applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.38&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.17&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.47&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.03&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average common shares used in computing earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per share - diluted&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.41&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.24&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.12&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss) applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.38&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.17&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.47&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.03&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average common shares used in computing diluted earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Three Months Ended 2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;March 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;June 30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;September 30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars in thousands, except share and per share amounts) &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 52%; vertical-align: top"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 9%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating revenues&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,083&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,607&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;33,409&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;24,857&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;26,165&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;27,990&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;28,199&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;24,717&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,918&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,617&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,210&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other (expense) income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(6,638&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;2,678&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;5,955&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(3,508&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income&amp;#160; before gain on sales, non-contolling interest, and taxes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,720&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,295&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;11,165&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,368&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on formation of joint venture&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;154,126&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,335&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,243&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,826&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income tax expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(792&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(418&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(385&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;6,295&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;22,616&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;154,166&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(385&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;6,295&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;22,616&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;154,166&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: net (income) attributable to non-controlling interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(441&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(2,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,012&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Preferred dividend requirement&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(225&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(225&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(225&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(226&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(885&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;5,629&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;20,126&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;147,928&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;PER SHARE DATA&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per share - basic&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;9.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;9.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average common shares used in computing earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,938,077&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per share - diluted&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income (loss) from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;9.27&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss) applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.06&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.35&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;1.26&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;9.27&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average common shares used in computing diluted earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,938,077&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,997,076&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Three Months Ended 2017&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;March 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;June 30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;September 30,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: center"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="vertical-align: top; text-align: center"&gt;&lt;b&gt;(dollars in thousands, except share and per share amounts) &lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: center"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="width: 48%; vertical-align: top"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 10%; vertical-align: bottom; text-align: right"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating revenues&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,822&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,587&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,807&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;31,005&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Total operating expenses&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;27,345&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;26,759&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;26,397&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;28,292&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Operating income&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,477&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;4,828&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;5,410&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;2,713&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Other expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(10,829&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(15,676&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(9,348&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(11,853&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Loss before gain on sales, non-contolling interest, and taxes&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(6,352&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(10,848&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(3,938&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(9,140&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain on sale of income producing properties&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;12,760&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,938&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Gain (loss) on land sales&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;445&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(476&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;1,062&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;3,853&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Income tax expense&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(180&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(5,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(11,324&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;9,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(1,529&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net income (loss)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(5,907&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(11,324&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;9,884&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(1,529&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: net (income) loss attributable to non-controlling interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;193&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;435&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;(522&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;339&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Preferred dividend requirement&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(275&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(280&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(5,989&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(11,164&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;9,087&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2.5pt double"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(1,470&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;PER SHARE DATA&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per share - basic&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average common shares used in computing earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Earnings per share - diluted&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;(Loss) income from continued operations&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Net (loss) income applicable to common shares&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.39&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.72&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;0.59&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;(0.09&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Weighted average common shares used in computing diluted earnings per share&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;15,514,360&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock>
    <us-gaap:NetIncomeLoss contextRef="From2019-01-01to2019-12-31" unitRef="USD" decimals="-3">-15958000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss contextRef="From2018-01-01to2018-12-31" unitRef="USD" decimals="-3">173699000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss contextRef="From2017-01-01to2017-12-31" unitRef="USD" decimals="-3">-8431000</us-gaap:NetIncomeLoss>
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    <us-gaap:PaymentsForProceedsFromProductiveAssets contextRef="From2018-01-01to2018-12-31_custom_ApartmentsSegmentsMember_us-gaap_OperatingSegmentsMember" unitRef="USD" decimals="-3">16953000</us-gaap:PaymentsForProceedsFromProductiveAssets>
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    <us-gaap:PaymentsForProceedsFromProductiveAssets contextRef="From2017-01-01to2017-12-31_custom_CommercialSegmentsMember_us-gaap_OperatingSegmentsMember" unitRef="USD" decimals="-3">-5817000</us-gaap:PaymentsForProceedsFromProductiveAssets>
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    <arl:ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The following table sets forth the location of our real estate held for investment (income-producing properties only) by asset type as of December 31, 2019:&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 50%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; white-space: nowrap"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/font&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 24%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Location&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;No.&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Units&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Alabama&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;1&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;168&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Arkansas&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;1,122&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Colorado&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;2&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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    <us-gaap:SubsequentEventsTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE 19.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;&lt;b&gt;SUBSEQUENT EVENTS&lt;/b&gt;&lt;/i&gt;&#13;        &lt;/b&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;On February 2, 2020, S&amp;#38;P Global&#13;Ratings announced the increase of the Company's issuer rating to 'ilA-' from 'ilBBB+' for Bonds (Series A and B). In&#13;addition, Series C bond rating (secured by one of SPC&amp;#8217;s commercial properties) increase to 'ilA' from 'ilA-' rating due&#13;to the expectation of continued improvement in coverage ratios and the expansion of Company&amp;#8217;s portfolio. Our business&#13;may be impacted as a result of the pandemic impact the coronavirus (&amp;#x201C;COVID 19&amp;#x201D;) may have in the U.S. and global&#13;economy.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;During 2020, a strain of coronavirus (&amp;#x201C;COVID &amp;#x2013; 19&amp;#x201D;) was reported worldwide, resulting in&#13;decreased economic activity and concerns about the pandemic, which would adversely affect the broader global economy. The&#13;Company is taking all necessary steps to keep our business premises, tenants, vendors and employees in a safe environment and&#13;are constantly monitoring the impact of COVID &amp;#x2013; 19.&amp;#160; At this point, the extent to which COVID &amp;#x2013; 19 may&#13;impact the global economy and our business is uncertain, but pandemics or other significant public health events could have a&#13;material adverse effect on our business and results of operations&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;The date to which events occurring after December 31, 2019, the date of the most recent balance sheet, have been evaluated for possible adjustments to the financial statements or disclosure is March 30, 2020, which is the date of which the financial statements were available to be issued. There are no subsequent events that would require an adjustment to the financial statements.&lt;/p&gt;</us-gaap:SubsequentEventsTextBlock>
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    <arl:RealEstateAndAccumulatedDepreciationAssetImpairmentCharges contextRef="AsOf2019-12-31_custom_PropertiesHeldforInvestmentCorporateDebtMember_custom_LandHeldforInvestmentAdjustmentMember" unitRef="USD" decimals="-3">21464000</arl:RealEstateAndAccumulatedDepreciationAssetImpairmentCharges>
    <arl:RealEstateAndAccumulatedDepreciationAssetImpairmentCharges contextRef="AsOf2019-12-31_custom_PropertiesHeldforInvestmentCorporateDebtMember" unitRef="USD" decimals="-3">31064000</arl:RealEstateAndAccumulatedDepreciationAssetImpairmentCharges>
    <arl:RealEstateAndAccumulatedDepreciationAssetImpairmentCharges contextRef="AsOf2019-12-31_custom_PropertiesHeldforInvestmentCorporateDebtMember_custom_LandHeldforInvestmentMember_custom_DominionTractFarmersBranchTXAdjustmentMember_stpr_TX" unitRef="USD" decimals="-3">135000</arl:RealEstateAndAccumulatedDepreciationAssetImpairmentCharges>
    <us-gaap:OperatingLeasesOfLessorDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE&#13;14.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;ARL&amp;#8217;s&#13;operations include the leasing of commercial properties (office buildings, industrial warehouses and retail centers). The leases,&#13;thereon, expire at various dates through 2029. The following is a schedule of minimum future rents due to ARL under non-cancelable&#13;operating leases as of December 31, 2019 (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 40%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; white-space: nowrap"&gt;&lt;b&gt;Year&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center; white-space: nowrap"&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 67%; vertical-align: top; white-space: nowrap"&gt;2020&lt;/td&gt;&#13;    &lt;td style="width: 4%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; vertical-align: bottom; text-align: left; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 25%; vertical-align: bottom; text-align: right; white-space: nowrap"&gt;26,208&lt;/td&gt;&#13;    &lt;td style="width: 2%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; white-space: nowrap"&gt;2021&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; white-space: nowrap"&gt;23,558&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; white-space: nowrap"&gt;2022&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; white-space: nowrap"&gt;20,382&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; white-space: nowrap"&gt;2023&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; white-space: nowrap"&gt;14,882&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; white-space: nowrap"&gt;2024&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right; white-space: nowrap"&gt;8,861&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; white-space: nowrap"&gt;Thereafter&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left; white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; white-space: nowrap"&gt;7,109&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.25in; white-space: nowrap"&gt;Total&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left; white-space: nowrap"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right; white-space: nowrap"&gt;&lt;b&gt;101,000&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:OperatingLeasesOfLessorDisclosureTextBlock>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The following is a schedule of minimum future&#13;rents due to ARL under non-cancelable operating leases as of December 31, 2019 (dollars in thousands):&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="width: 40%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Year&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 67%; vertical-align: top"&gt;2020&lt;/td&gt;&#13;    &lt;td style="width: 4%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 2%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 25%; vertical-align: bottom; text-align: right"&gt;26,208&lt;/td&gt;&#13;    &lt;td style="width: 2%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2021&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;23,558&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;2022&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,382&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;2023&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;14,882&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;2024&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;8,861&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Thereafter&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"&gt;7,109&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top; padding-left: 0.25in"&gt;Total&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right"&gt;&lt;b&gt;101,000&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">26208000</us-gaap:LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceivedTwoYears contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">23558000</us-gaap:LessorOperatingLeasePaymentsToBeReceivedTwoYears>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceivedThreeYears contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">20382000</us-gaap:LessorOperatingLeasePaymentsToBeReceivedThreeYears>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceivedFourYears contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">14882000</us-gaap:LessorOperatingLeasePaymentsToBeReceivedFourYears>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceivedFiveYears contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">8861000</us-gaap:LessorOperatingLeasePaymentsToBeReceivedFiveYears>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceivedThereafter contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">7109000</us-gaap:LessorOperatingLeasePaymentsToBeReceivedThereafter>
    <us-gaap:LessorOperatingLeasePaymentsToBeReceived contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">101000000</us-gaap:LessorOperatingLeasePaymentsToBeReceived>
    <arl:ManagementFee contextRef="From2019-01-01to2019-12-31_us-gaap_AffiliatedEntityMember" unitRef="USD" decimals="-3">2200000</arl:ManagementFee>
    <arl:InvestmentInVaaDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 60pt; vertical-align: top; white-space: nowrap"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;NOTE 2.&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top; white-space: nowrap"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;&lt;i&gt;INVESTMENT IN VAA&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;On November 19, 2018, TCI executed an agreement with Macquarie Group (&amp;#8220;Macquarie&amp;#8221;) to create a joint venture, Victory Abode Apartments, LLC (&amp;#8220;VAA&amp;#8221;) to address existing and future demand for quality multifamily residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. In connection with the formation of the joint venture, TCI contributed a portfolio of 49 income producing apartment complexes, and 3 development projects in various stages of construction. TCI received cash consideration of $236.8 million and recognized a gain of approximately $154.1 million. At the time of the transfer of the properties, the joint venture assumed all liabilities of those properties, including mortgage debt to the Department of Housing and Urban Development (&amp;#8220;HUD&amp;#8221;).&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;VAA is equally owned and controlled by Abode JVP, LLC, a wholly-owned subsidiary of Southern and Summerset Intermediate Holdings 2 LLC (&amp;#8220;Summerset&amp;#8221;), a wholly-owned indirect subsidiary of Macquarie.&amp;#160; Pursuant to the Agreement, Abode JVP, LLC and Summerset each own voting and profit participation rights of 50% and 49%, respectively (&amp;#8220;Class A Members&amp;#8221;).&amp;#160; The remaining 2% of the profit participation interest is held by Daniel J. Moos ARL&amp;#8217;s President and Chief Executive Officer (&amp;#8220;Class B Member&amp;#8221;) who serves also as the Manager of the joint venture.&amp;#160;In addition, upon the closing of the agreement the Class B Member received a one-time consideration payment of $1.9 million.&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;The Company accounts for its investment in VAA under the equity method of accounting. Under the equity method of accounting, our net equity in the investment is reflected within the Consolidated Balance Sheets in the caption &amp;#8216;Investment in VAA&amp;#8217;, and our share of the net income or loss from the joint venture is included within the Consolidated Statements of Operations in the caption &amp;#8216;Earnings from VAA&amp;#8217;. The joint venture agreements may designate different percentage allocations among investors for profits and losses; however, our recognition of joint venture income or loss generally follows the joint venture&amp;#8217;s distribution priorities, which may change upon the achievement of certain investment return thresholds and other agreed upon adjustments.&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;The following is a summary of the financial position and results of operations of VAA (dollars in thousands):&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;As&#13;            of December 31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Balance&#13;            Sheet&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Net real estate assets&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,242,957&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,257,557&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Other assets&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;62,222&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;67,020&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Debt, net&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(832,779&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(791,225&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Other liabilities&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(271,291&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(280,288&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total equity&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(201,109&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(253,064&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Results&#13;            of Operations&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the Year Ended December 31, 2019&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the period November 19 to December 31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total revenue&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;115,377&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;12,887&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total property, operating, and maintenance expenses&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(56,967&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(4,507&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Interest expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(61,487&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(5,818&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Depreciation and Amortization&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(43,942&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(6,987&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total other expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(3,377&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(5,297&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Net loss&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(50,396&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(9,722&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;/p&gt;&#13;    &#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The following is a reconciliation from VAA&amp;#8217;s net loss to TCI&amp;#8217;s equity in earnings from VAA (dollars in thousands):&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the Year Ended December 31, 2019&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the period November 19 to December 31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;VAA net loss&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(50,396&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(9,722&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Adjustments to reconcile to income (loss) from VAA&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;Interest expense on mezzanine loan&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;25,014&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;2,815&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;In-place lease intangibles - amortization expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;14,703&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;3,983&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;Depreciation basis differences&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;5,132&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;3,012&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;Net loss&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(5,547&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;88&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Percentage ownership in VAA&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;50&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;50&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Loss from VAA&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(2,774&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;44&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The following table sets forth the location of our real estate held for investment (income-producing properties only) by asset type as of December 31, 2019:&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 50%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; white-space: nowrap"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Apartments&lt;/b&gt;&lt;/font&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 24%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Location&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;No.&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Units&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Alabama&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;1&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;168&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Arkansas&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;5&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;1,122&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Colorado&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;2&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;260&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Florida&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;2&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Texas-Greater Dallas-Ft Worth&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;3,709&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Texas-Greater Houston&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;2&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;416&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Texas-Other&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;1,726&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;&amp;#160;Total&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; font: 10pt Times New Roman, Times, Serif; border-left-style: none; border-right-style: none; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;51&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2pt double; font: 10pt Times New Roman, Times, Serif; border-left-style: none; border-right-style: none; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;9,888&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;At December 31, 2019, our apartment projects in development included (dollars in thousands):&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Property&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Location&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;No. of Units&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Costs to Date&amp;#160;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;Total Projected Costs&amp;#160;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 34%; vertical-align: bottom; white-space: nowrap"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;Lakeside Lofts apartments&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 25%; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;Farmers Branch, TX&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;249&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&amp;#160;&amp;#160;&amp;#160;50,357&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;80,622&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; white-space: nowrap"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;Total&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;249&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;&amp;#160;50,357&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-top: black 1pt solid; border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman,serif"&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;80,622&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&amp;#160;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(1) Costs include construction hard costs, construction soft costs and loan borrowing costs.&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;During 2019, the Company received $19.4 million cash distribution from VAA as a result of the annual surplus cash computation from its HUD collaterized residential properties and other amounts owed to the Company as agreed to in the joint venture operating agreement.&lt;/font&gt;&lt;/p&gt;</arl:InvestmentInVaaDisclosureTextBlock>
    <us-gaap:EquityMethodInvestmentsTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;The following is a summary of the financial position and results of operations of VAA (dollars in thousands):&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;As&#13;            of December 31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Balance&#13;            Sheet&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Net real estate assets&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,242,957&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,257,557&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Other assets&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;62,222&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;67,020&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Debt, net&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(832,779&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(791,225&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Other liabilities&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(271,291&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(280,288&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total equity&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(201,109&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(253,064&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Results&#13;            of Operations&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the Year Ended December 31, 2019&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the period November 19 to December 31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total revenue&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;115,377&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;12,887&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total property, operating, and maintenance expenses&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(56,967&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(4,507&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Interest expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(61,487&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(5,818&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Depreciation and Amortization&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(43,942&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(6,987&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Total other expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(3,377&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(5,297&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Net loss&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(50,396&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(9,722&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&#13;        &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;/p&gt;&#13;    &#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The following is a reconciliation from VAA&amp;#8217;s net loss to TCI&amp;#8217;s equity in earnings from VAA (dollars in thousands):&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the Year Ended December 31, 2019&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;For&#13;            the period November 19 to December 31, 2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;VAA net loss&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(50,396&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(9,722&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Adjustments to reconcile to income (loss) from VAA&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;Interest expense on mezzanine loan&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;25,014&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13; 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text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;14,703&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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           &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;3,012&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;Net loss&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(5,547&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;88&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Percentage ownership in VAA&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;50&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;50&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Loss from VAA&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(2,774&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;44&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;</us-gaap:EquityMethodInvestmentsTextBlock>
    <us-gaap:DebtLongtermAndShorttermCombinedAmount contextRef="AsOf2019-12-31_custom_VictoryAbodeApartmentsLLCMember" unitRef="USD" decimals="-3">832779000</us-gaap:DebtLongtermAndShorttermCombinedAmount>
    <us-gaap:DebtLongtermAndShorttermCombinedAmount contextRef="AsOf2018-12-31_custom_VictoryAbodeApartmentsLLCMember" unitRef="USD" decimals="-3">791225000</us-gaap:DebtLongtermAndShorttermCombinedAmount>
    <us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 54pt; text-indent: -54pt"&gt;&lt;b&gt;NOTE 13.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;&lt;i&gt;&lt;b&gt;INCOME TAXES&lt;/b&gt;&lt;/i&gt;&#13;        &lt;/b&gt;&#13;    &lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;For financial reporting purposes, income before income taxes were:&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Years Ended December 31,&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;2018&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;2017&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="color: black"&gt;(In thousands)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; width: 58%; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;(Loss) income from continuing operations before income taxes&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(21,743&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;183,902&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(8,696&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;The (benefit) expense for income taxes consists of:&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Years Ended December 31,&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;(In thousands)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; width: 58%; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Current:&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Federal&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#x2014;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;42,231&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;(3,044&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;State&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&amp;#x2014;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;1,210&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;10&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Deferred and Other:&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Federal&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&amp;#x2014;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;(42,231&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;3,044&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;State&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&amp;#x2014;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;170&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Total tax expense&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;&amp;#x2014;&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;1,210&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;The reconciliation between the Company&amp;#x2019;s effective tax rate on income from continuing operations and the statutory rate is as follows:&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: center; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Years Ended December 31,&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: center; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;2019&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: center; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(In thousands)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 58%; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Income tax (benefit) expense at federal statutory rate&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"&gt;(4,566&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;31,739&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(3,044&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;State and local income taxes net of federal tax (benefit) expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#x2014;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,210&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;180&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Permanent tax differences&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;(2,499&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(224&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#x2014;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Temporary tax differences&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13; 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text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;22,110&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;9,284&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Other basis/timing differences&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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           &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;3,044&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Reported Income Tax Expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#x2014;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,210&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;180&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Effective Tax Rate&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;0.0&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;0.7&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;N/A&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;The company is subject to taxation in the United States and various states and foreign jurisdictions. As of December 31, 2019, the Company&amp;#x2019;s tax years for 2018, 2017, and 2016 are subject to examination by the tax authorities. With few exceptions, as of December 31, 2019, the Company is no longer subject to U.S federal, state, local, or foreign examinations by tax authorities for the years before 2016.&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;The 2019 and 2018 effective tax rate is driven primarily by the passing of the Tax Cuts and Jobs Act by congress. This act has reduced the statutory tax rate for corporations from 35% to 21% starting in 2018. As a result, the tax assets of ARI had to be re-priced to reflect the new rate for future years with the impact on the 2017 provision for income taxes.&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&lt;b&gt;Components of the Net Deferred Tax Asset or Liability&lt;/b&gt;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Years Ended December 31,&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;2018&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="color: black"&gt;(In thousands)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 72%; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Deferred Tax Assets:&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Allowance for losses on notes&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;2,751&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;2,879&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Deferred Gain&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;5,200&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;3,999&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Foreign currency translations&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;1,521&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#x2014;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Net Operating Loss Carryforward&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;18,371&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;8,700&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Total Deferred Tax Assets&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;27,843&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;15,578&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Less: valuation allowance&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(21,180&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(12,246&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Total Net Deferred Tax Assets&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Deferred Tax Liabilities:&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Deferred gain&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#x2014;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;&amp;#x2014;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Basis differences for fixed assets&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Total Deferred Tax Liability&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Current Net Deferred Tax Asset&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Long-Term Net Deferred Tax Liability&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Net deferred tax asset (liability)&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#x2014;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;&amp;#x2014;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&lt;b&gt;Operating Loss and Tax Credit Carryforwards&lt;/b&gt;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;We have federal income tax net operating losses (NOLs) carryforwards related to our domestic operations of approximately $53 million on a standalone basis, which have an indefinite life. We also have state NOLs in many of the various states in which we operate.&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&lt;b&gt;Valuation Allowance Reversal&lt;/b&gt;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. At December 31, 2019, 2018 and 2017 ARL had a net deferred tax asset due to tax deductions available to it in future years. However, as management could not determine that it was more likely than not that ARL would realize the benefit of the deferred tax asset, a valuation allowance was established.&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
    <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;For financial reporting purposes, income before income taxes were:&amp;#160;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Years Ended December 31,&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;2018&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;2017&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="color: black"&gt;(In thousands)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; width: 58%; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;(Loss) income from continuing operations before income taxes&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(21,743&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;183,902&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(8,696&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;The (benefit) expense for income taxes consists of:&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;Years Ended December 31,&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;(In thousands)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; width: 58%; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Current:&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Federal&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13; 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color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;State&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13; 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margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;10&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13; 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               &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&amp;#x2014;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13; 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               &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;3,044&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;State&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&amp;#x2014;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;170&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;Total tax expense&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;&amp;#x2014;&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;1,210&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;&lt;b&gt;180&lt;/b&gt;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
    <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;The reconciliation between the Company&amp;#x2019;s effective tax rate on income from continuing operations and the statutory rate is as follows:&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: center; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Years Ended December 31,&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: center; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;2019&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: center; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(In thousands)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 58%; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Income tax (benefit) expense at federal statutory rate&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"&gt;(4,566&lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;31,739&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(3,044&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;State and local income taxes net of federal tax (benefit) expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#x2014;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,210&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;180&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Permanent tax differences&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;(2,499&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13; 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           &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;(42,231&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;3,044&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Reported Income Tax Expense&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#x2014;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;1,210&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;180&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;Effective Tax Rate&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;0.0&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;0.7&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: right"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;N/A&lt;/b&gt;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&#13;                &lt;font style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
    <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"&gt;&lt;b&gt;Components of the Net Deferred Tax Asset or Liability&lt;/b&gt;&lt;/p&gt;&#13;    &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;    &lt;table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse"&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Years Ended December 31,&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: bottom; text-align: right"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;2018&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td colspan="6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center"&gt;&#13;                    &lt;font style="color: black"&gt;(In thousands)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 72%; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Deferred Tax Assets:&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Allowance for losses on notes&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;2,751&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;2,879&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Deferred Gain&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;5,200&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;3,999&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Foreign currency translations&amp;#160;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;1,521&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#x2014;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Net Operating Loss Carryforward&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;18,371&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;8,700&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Total Deferred Tax Assets&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;27,843&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;15,578&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Less: valuation allowance&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(21,180&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(12,246&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Total Net Deferred Tax Assets&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Deferred Tax Liabilities:&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Deferred gain&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#x2014;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;&amp;#x2014;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Basis differences for fixed assets&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Total Deferred Tax Liability&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Current Net Deferred Tax Asset&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&#13;                    &lt;font style="color: black"&gt;Long-Term Net Deferred Tax Liability&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;(6,663&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;)&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;(3,332&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;)&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;        &lt;tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff"&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"&gt;&lt;b&gt;&lt;font style="color: black"&gt;&lt;font style="color: black"&gt;Net deferred tax asset (liability)&lt;/font&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;$&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&amp;#x2014;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&#13;                    &lt;font style="color: black"&gt;$&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"&gt;&#13;                    &lt;font style="color: black"&gt;&amp;#x2014;&lt;/font&gt;&#13;                &lt;/p&gt;&#13;            &lt;/td&gt;&#13;            &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom"&gt;&#13;                &lt;p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left"&gt;&amp;#160;&lt;/p&gt;&#13;            &lt;/td&gt;&#13;        &lt;/tr&gt;&#13;    &lt;/table&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
    <us-gaap:DeferredTaxAssetsUnrealizedCurrencyLosses contextRef="AsOf2019-12-31" unitRef="USD" decimals="-3">1521000</us-gaap:DeferredTaxAssetsUnrealizedCurrencyLosses>
    <arl:EquityMethodAdjustedNetIncome contextRef="From2019-01-01to2019-12-31_custom_VictoryAbodeApartmentsLLCMember" unitRef="USD" decimals="-3">-5547000</arl:EquityMethodAdjustedNetIncome>
    <arl:EquityMethodAdjustedNetIncome contextRef="From2018-11-20to2018-12-31_custom_VictoryAbodeApartmentsLLCMember" unitRef="USD" decimals="-3">88000</arl:EquityMethodAdjustedNetIncome>
    <us-gaap:ScheduleOfDebtInstrumentsTextBlock contextRef="From2019-01-01to2019-12-31">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The&#13;outstanding balance of these Bonds at December 31, 2019 and 2018 were as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse"&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;December&#13;    31,&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="width: 72%; vertical-align: top"&gt;Bonds&#13;    (Series A)&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 11%; vertical-align: bottom; text-align: right"&gt;92,653&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="width: 11%; vertical-align: bottom; text-align: right"&gt;106,686&lt;/td&gt;&#13;    &lt;td style="width: 1%; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bonds (Series B)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;39,844&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;36,740&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bonds (Series B&#13;    expansion)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;20,920&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: right"&gt;19,290&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Bonds (Series C)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;79,572&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;&amp;#8212;&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total outstanding&#13;    bonds&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;232,989&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;162,716&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Less: deferred bond&#13;    issuance costs&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;(9,724&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;(8,179&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total outstanding&#13;    bonds, net&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;223,265&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;154,537&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr&gt;&#13;    &lt;td style="vertical-align: top"&gt;Accrued Interest&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;6,457&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"&gt;4,037&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="background-color: #cceeff"&gt;&#13;    &lt;td style="vertical-align: top"&gt;&lt;b&gt;Total outstanding&#13;    bonds, net and accrued interest&lt;/b&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;229,722&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left"&gt;$&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right"&gt;158,574&lt;/td&gt;&#13;    &lt;td style="vertical-align: bottom; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"&gt;&amp;#160;&lt;/p&gt;</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
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	<link:roleType roleURI="http://pillar.com/role/OperatingSegmentsTables" id="OperatingSegmentsTables">
	  <link:definition>00000042 - Disclosure - OPERATING SEGMENTS (Tables)</link:definition>
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	  <link:usedOn>link:calculationLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/QuarterlyResultsOfOperationsTables" id="QuarterlyResultsOfOperationsTables">
	  <link:definition>00000043 - Disclosure - QUARTERLY RESULTS OF OPERATIONS (Tables)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/OrganizationAndSummaryOfSignificantAccountingPoliciesDetailsNarrative" id="OrganizationAndSummaryOfSignificantAccountingPoliciesDetailsNarrative">
	  <link:definition>00000044 - Disclosure - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/InvestmentInVaaDetails" id="InvestmentInVaaDetails">
	  <link:definition>00000045 - Disclosure - INVESTMENT IN VAA (Details)</link:definition>
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	  <link:usedOn>link:calculationLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/InvestmentInVaaDetails1" id="InvestmentInVaaDetails1">
	  <link:definition>00000046 - Disclosure - INVESTMENT IN VAA (Details 1)</link:definition>
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	  <link:usedOn>link:calculationLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/InvestmentInVaaDetails2" id="InvestmentInVaaDetails2">
	  <link:definition>00000047 - Disclosure - INVESTMENT IN VAA (Details 2)</link:definition>
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	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/InvestmentInVaaDetailsNarrative" id="InvestmentInVaaDetailsNarrative">
	  <link:definition>00000048 - Disclosure - INVESTMENT IN VAA (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/RealEstateDetails" id="RealEstateDetails">
	  <link:definition>00000049 - Disclosure - REAL ESTATE (Details)</link:definition>
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	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/RealEstateDetails1" id="RealEstateDetails1">
	  <link:definition>00000050 - Disclosure - REAL ESTATE (Details 1)</link:definition>
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	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/RealEstateDetailsNarrative" id="RealEstateDetailsNarrative">
	  <link:definition>00000051 - Disclosure - REAL ESTATE (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/SupplementalCashFlowInformationDetails" id="SupplementalCashFlowInformationDetails">
	  <link:definition>00000052 - Disclosure - SUPPLEMENTAL CASH FLOW INFORMATION (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/SupplementalCashFlowInformationDetailsNarrative" id="SupplementalCashFlowInformationDetailsNarrative">
	  <link:definition>00000053 - Disclosure - SUPPLEMENTAL CASH FLOW INFORMATION (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/NotesAndInterestReceivableDetails" id="NotesAndInterestReceivableDetails">
	  <link:definition>00000054 - Disclosure - NOTES AND INTEREST RECEIVABLE (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/NotesAndInterestReceivableDetailsNarrative" id="NotesAndInterestReceivableDetailsNarrative">
	  <link:definition>00000055 - Disclosure - NOTES AND INTEREST RECEIVABLE (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/InvestmentsInUnconsolidatedSubsidiariesAndInvesteesDetails" id="InvestmentsInUnconsolidatedSubsidiariesAndInvesteesDetails">
	  <link:definition>00000056 - Disclosure - INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/InvestmentsInUnconsolidatedSubsidiariesAndInvesteesDetailsNarrative" id="InvestmentsInUnconsolidatedSubsidiariesAndInvesteesDetailsNarrative">
	  <link:definition>00000057 - Disclosure - INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/NotesAndInterestPayableDetails" id="NotesAndInterestPayableDetails">
	  <link:definition>00000058 - Disclosure - NOTES AND INTEREST PAYABLE (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/NotesAndInterestPayableDetails1" id="NotesAndInterestPayableDetails1">
	  <link:definition>00000059 - Disclosure - NOTES AND INTEREST PAYABLE (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/NotesAndInterestPayableDetailsNarrative" id="NotesAndInterestPayableDetailsNarrative">
	  <link:definition>00000060 - Disclosure - NOTES AND INTEREST PAYABLE (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/BondsAndBondsInterestPayableDetails" id="BondsAndBondsInterestPayableDetails">
	  <link:definition>00000061 - Disclosure - BONDS AND BONDS INTEREST PAYABLE (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/BondsAndBondsInterestPayableDetails1" id="BondsAndBondsInterestPayableDetails1">
	  <link:definition>00000062 - Disclosure - BONDS AND BONDS INTEREST PAYABLE (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/BondsAndBondsInterestPayableDetailsNarrative" id="BondsAndBondsInterestPayableDetailsNarrative">
	  <link:definition>00000063 - Disclosure - BONDS AND BONDS INTEREST PAYABLE (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/RelatedPartyTransactionsAndFeesDetails" id="RelatedPartyTransactionsAndFeesDetails">
	  <link:definition>00000064 - Disclosure - RELATED PARTY TRANSACTIONS AND FEES (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/RelatedPartyTransactionsAndFeesDetails1" id="RelatedPartyTransactionsAndFeesDetails1">
	  <link:definition>00000065 - Disclosure - RELATED PARTY TRANSACTIONS AND FEES (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/RelatedPartyTransactionsAndFeesDetailsNarrative" id="RelatedPartyTransactionsAndFeesDetailsNarrative">
	  <link:definition>00000066 - Disclosure - RELATED PARTY TRANSACTIONS AND FEES (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/DeferredIncomeDetailsNarrative" id="DeferredIncomeDetailsNarrative">
	  <link:definition>00000067 - Disclosure - DEFERRED INCOME (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/DividendsDetailsNarrative" id="DividendsDetailsNarrative">
	  <link:definition>00000068 - Disclosure - DIVIDENDS (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/PreferredStockDetailsNarrative" id="PreferredStockDetailsNarrative">
	  <link:definition>00000069 - Disclosure - PREFERRED STOCK (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/IncomeTaxesDetails" id="IncomeTaxesDetails">
	  <link:definition>00000070 - Disclosure - INCOME TAXES (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/IncomeTaxesDetails1" id="IncomeTaxesDetails1">
	  <link:definition>00000071 - Disclosure - INCOME TAXES (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/IncomeTaxesDetails2" id="IncomeTaxesDetails2">
	  <link:definition>00000072 - Disclosure - INCOME TAXES (Details 2)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/IncomeTaxesDetailsNarrative" id="IncomeTaxesDetailsNarrative">
	  <link:definition>00000073 - Disclosure - INCOME TAXES (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/FutureMinimumRentalIncomeUnderOperatingLeasesDetails" id="FutureMinimumRentalIncomeUnderOperatingLeasesDetails">
	  <link:definition>00000074 - Disclosure - FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/OperatingSegmentsDetails" id="OperatingSegmentsDetails">
	  <link:definition>00000075 - Disclosure - OPERATING SEGMENTS (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/OperatingSegmentsDetails1" id="OperatingSegmentsDetails1">
	  <link:definition>00000076 - Disclosure - OPERATING SEGMENTS (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/OperatingSegmentsDetails2" id="OperatingSegmentsDetails2">
	  <link:definition>00000077 - Disclosure - OPERATING SEGMENTS (Details 2)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:roleType roleURI="http://pillar.com/role/QuarterlyResultsOfOperationsDetails" id="QuarterlyResultsOfOperationsDetails">
	  <link:definition>00000078 - Disclosure - QUARTERLY RESULTS OF OPERATIONS (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/CommitmentsContingenciesAndLiquidityDetailsNarrative" id="CommitmentsContingenciesAndLiquidityDetailsNarrative">
	  <link:definition>00000079 - Disclosure - COMMITMENTS, CONTINGENCIES, AND LIQUIDITY (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/EarningsPerShareDetailsNarrative" id="EarningsPerShareDetailsNarrative">
	  <link:definition>00000080 - Disclosure - EARNINGS PER SHARE (Details Narrative)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/ScheduleIiiRealEstateAndAccumulatedDepreciationDetails" id="ScheduleIiiRealEstateAndAccumulatedDepreciationDetails">
	  <link:definition>00000081 - Disclosure - SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/ScheduleIiiRealEstateAndAccumulatedDepreciationDetails1" id="ScheduleIiiRealEstateAndAccumulatedDepreciationDetails1">
	  <link:definition>00000082 - Disclosure - SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/ScheduleIvMortgageLoansReceivableDetails" id="ScheduleIvMortgageLoansReceivableDetails">
	  <link:definition>00000083 - Disclosure - SCHEDULE IV MORTGAGE LOANS RECEIVABLE (Details)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
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	<link:roleType roleURI="http://pillar.com/role/ScheduleIvMortgageLoansReceivableDetails1" id="ScheduleIvMortgageLoansReceivableDetails1">
	  <link:definition>00000084 - Disclosure - SCHEDULE IV MORTGAGE LOANS RECEIVABLE (Details 1)</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
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</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>8
<FILENAME>arl-20191231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
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    <link:definitionLink xlink:type="extended" xlink:role="http://pillar.com/role/ScheduleIvMortgageLoansReceivableDetails1" xlink:title="00000084 - Disclosure - SCHEDULE IV MORTGAGE LOANS RECEIVABLE (Details 1)" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>10
<FILENAME>arl-20191231_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.3a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Source; Value: P:\Clients\AMERICAN REALTY INVESTORS INC\XBRL\20191231\ari_123119.xfr; Date: 2020%2D03%2D29T02:32:48Z -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xml:lang="en-US">Related Party [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RelatedPartyMember" xlink:label="arl_RelatedPartyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyMember" xlink:to="arl_RelatedPartyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RelatedPartyMember_lbl" xml:lang="en-US">Related Parties [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConvertiblePreferredStockMember" xlink:label="us-gaap_ConvertiblePreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertiblePreferredStockMember" xlink:to="us-gaap_ConvertiblePreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConvertiblePreferredStockMember_lbl" xml:lang="en-US">Series A Preferred Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US">Legal Entity [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AmericanRealtyInvestorsIncAndSubsidiariesMember" xlink:label="arl_AmericanRealtyInvestorsIncAndSubsidiariesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AmericanRealtyInvestorsIncAndSubsidiariesMember" xlink:to="arl_AmericanRealtyInvestorsIncAndSubsidiariesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AmericanRealtyInvestorsIncAndSubsidiariesMember_lbl" xml:lang="en-US">ARL and Subsidiaries [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TranscontinentalRealtyInvestorsMember" xlink:label="arl_TranscontinentalRealtyInvestorsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TranscontinentalRealtyInvestorsMember" xlink:to="arl_TranscontinentalRealtyInvestorsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TranscontinentalRealtyInvestorsMember_lbl" xml:lang="en-US">TCI [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Equity Components [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ComprehensiveIncomeMember" xlink:label="us-gaap_ComprehensiveIncomeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeMember" xlink:to="us-gaap_ComprehensiveIncomeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeMember_lbl" xml:lang="en-US">Comprehensive Income (Loss) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="us-gaap_PreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="us-gaap_TreasuryStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockMember" xlink:to="us-gaap_TreasuryStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockMember_lbl" xml:lang="en-US">Treasury Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Paid-in Capital [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US">Retained Earnings [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="us-gaap_NoncontrollingInterestMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestMember" xlink:to="us-gaap_NoncontrollingInterestMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncontrollingInterestMember_lbl" xml:lang="en-US">Non-controlling Interest [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_OwnershipAxis" xlink:label="srt_OwnershipAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OwnershipAxis" xlink:to="srt_OwnershipAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OwnershipAxis_lbl" xml:lang="en-US">Ownership [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AmericanRealtyInvestorsIncMember" xlink:label="arl_AmericanRealtyInvestorsIncMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AmericanRealtyInvestorsIncMember" xlink:to="arl_AmericanRealtyInvestorsIncMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AmericanRealtyInvestorsIncMember_lbl" xml:lang="en-US">ARL [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RangeAxis" xlink:label="srt_RangeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeAxis_lbl" xml:lang="en-US">Range [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MinimumMember" xlink:label="srt_MinimumMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MinimumMember" xlink:to="srt_MinimumMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_IncomeOpportunityRealtyInvestorsIncMember" xlink:label="arl_IncomeOpportunityRealtyInvestorsIncMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_IncomeOpportunityRealtyInvestorsIncMember" xlink:to="arl_IncomeOpportunityRealtyInvestorsIncMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_IncomeOpportunityRealtyInvestorsIncMember_lbl" xml:lang="en-US">Income Opportunity Realty Investors, Inc. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_VictoryAbodeApartmentsLLCMember" xlink:label="arl_VictoryAbodeApartmentsLLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VictoryAbodeApartmentsLLCMember" xlink:to="arl_VictoryAbodeApartmentsLLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_VictoryAbodeApartmentsLLCMember_lbl" xml:lang="en-US">Victory Abode Apartments, LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AbodeJypLlcMember" xlink:label="arl_AbodeJypLlcMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AbodeJypLlcMember" xlink:to="arl_AbodeJypLlcMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AbodeJypLlcMember_lbl" xml:lang="en-US">Abode JVP, LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonClassAMember" xlink:label="us-gaap_CommonClassAMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonClassAMember" xlink:to="us-gaap_CommonClassAMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonClassAMember_lbl" xml:lang="en-US">Class A [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SummersetIntermediateHoldings2LLCMember" xlink:label="arl_SummersetIntermediateHoldings2LLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SummersetIntermediateHoldings2LLCMember" xlink:to="arl_SummersetIntermediateHoldings2LLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SummersetIntermediateHoldings2LLCMember_lbl" xml:lang="en-US">Summerset Intermediate Holdings 2 LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_TitleOfIndividualAxis" xlink:label="srt_TitleOfIndividualAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_TitleOfIndividualAxis" xlink:to="srt_TitleOfIndividualAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_TitleOfIndividualAxis_lbl" xml:lang="en-US">Title of Individual [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ChiefExecutiveOfficerMember" xlink:label="srt_ChiefExecutiveOfficerMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ChiefExecutiveOfficerMember" xlink:to="srt_ChiefExecutiveOfficerMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ChiefExecutiveOfficerMember_lbl" xml:lang="en-US">Daniel J. Moos ARL's President and Chief Executive Officer [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonClassBMember" xlink:label="us-gaap_CommonClassBMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonClassBMember" xlink:to="us-gaap_CommonClassBMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonClassBMember_lbl" xml:lang="en-US">Class B [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:label="srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_lbl" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_CommercialPropertyMember" xlink:label="arl_CommercialPropertyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CommercialPropertyMember" xlink:to="arl_CommercialPropertyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_CommercialPropertyMember_lbl" xml:lang="en-US">Commercial lProperties [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ApartmentBuildingMember" xlink:label="srt_ApartmentBuildingMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ApartmentBuildingMember" xlink:to="srt_ApartmentBuildingMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ApartmentBuildingMember_lbl" xml:lang="en-US">Apartment Buildings [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingAndBuildingImprovementsMember" xlink:to="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xml:lang="en-US">Buildings And Improvements [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MaximumMember" xlink:label="srt_MaximumMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:label="us-gaap_MachineryAndEquipmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MachineryAndEquipmentMember" xlink:to="us-gaap_MachineryAndEquipmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MachineryAndEquipmentMember_lbl" xml:lang="en-US">Furniture, Fixtures And Equipment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_lbl" xml:lang="en-US">Investment, Name [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="srt_StatementGeographicalAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US">Geographical [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_AL" xlink:label="country_AL" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_AL" xlink:to="country_AL_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_AL_lbl" xml:lang="en-US">ALABAMA</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_AR" xlink:label="country_AR" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_AR" xlink:to="country_AR_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_AR_lbl" xml:lang="en-US">ARKANSAS</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CO" xlink:label="country_CO" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CO" xlink:to="country_CO_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_CO_lbl" xml:lang="en-US">COLORADO</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd#stpr_FL" xlink:label="stpr_FL" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_FL" xlink:to="stpr_FL_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_FL_lbl" xml:lang="en-US">FLORIDA</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd#stpr_GA" xlink:label="stpr_GA" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_GA" xlink:to="stpr_GA_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_GA_lbl" xml:lang="en-US">GEORGIA</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_LA" xlink:label="country_LA" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_LA" xlink:to="country_LA_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_LA_lbl" xml:lang="en-US">LOUISIANA</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_MS" xlink:label="country_MS" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_MS" xlink:to="country_MS_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_MS_lbl" xml:lang="en-US">MISSISSIPPI</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd#stpr_NV" xlink:label="stpr_NV" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_NV" xlink:to="stpr_NV_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_NV_lbl" xml:lang="en-US">NEVADA</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_NC" xlink:label="country_NC" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_NC" xlink:to="country_NC_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_NC_lbl" xml:lang="en-US">NORTH CAROLINA</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_TN" xlink:label="country_TN" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_TN" xlink:to="country_TN_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_TN_lbl" xml:lang="en-US">TENNESSEE</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TXDallasMember" xlink:label="arl_TXDallasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TXDallasMember" xlink:to="arl_TXDallasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TXDallasMember_lbl" xml:lang="en-US">Texas-Greater Dallas Ft. Worth</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TXHoustonMember" xlink:label="arl_TXHoustonMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TXHoustonMember" xlink:to="arl_TXHoustonMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TXHoustonMember_lbl" xml:lang="en-US">Texas-Greater Houston</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd#stpr_TX" xlink:label="stpr_TX" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_TX" xlink:to="stpr_TX_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_TX_lbl" xml:lang="en-US">TEXAS</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:to="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_lbl" xml:lang="en-US">Name of Property [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LakesideLoftsApartmentsMember" xlink:label="arl_LakesideLoftsApartmentsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LakesideLoftsApartmentsMember" xlink:to="arl_LakesideLoftsApartmentsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LakesideLoftsApartmentsMember_lbl" xml:lang="en-US">Lakeside Lofts Apartments [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FramersBranchTXMember" xlink:label="arl_FramersBranchTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FramersBranchTXMember" xlink:to="arl_FramersBranchTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_FramersBranchTXMember_lbl" xml:lang="en-US">Framers Branch, Texas</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ApartmentProjectsInDevelopmentMember" xlink:label="arl_ApartmentProjectsInDevelopmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentProjectsInDevelopmentMember" xlink:to="arl_ApartmentProjectsInDevelopmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ApartmentProjectsInDevelopmentMember_lbl" xml:lang="en-US">Apartment Projects In Development [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TenantImprovementsMember" xlink:label="arl_TenantImprovementsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TenantImprovementsMember" xlink:to="arl_TenantImprovementsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TenantImprovementsMember_lbl" xml:lang="en-US">Tenant Improvements [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FarmersBranchTexasMember" xlink:label="arl_FarmersBranchTexasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FarmersBranchTexasMember" xlink:to="arl_FarmersBranchTexasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_FarmersBranchTexasMember_lbl" xml:lang="en-US">Farmers Branch, Texas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ForneyTexasMember" xlink:label="arl_ForneyTexasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ForneyTexasMember" xlink:to="arl_ForneyTexasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ForneyTexasMember_lbl" xml:lang="en-US">Forney, Texas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DallasTexasMember" xlink:label="arl_DallasTexasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DallasTexasMember" xlink:to="arl_DallasTexasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DallasTexasMember_lbl" xml:lang="en-US">Dallas Texas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NashvilleTennesseeMember" xlink:label="arl_NashvilleTennesseeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NashvilleTennesseeMember" xlink:to="arl_NashvilleTennesseeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NashvilleTennesseeMember_lbl" xml:lang="en-US">Nashville, Tennessee [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FortWorthTexasMember" xlink:label="arl_FortWorthTexasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FortWorthTexasMember" xlink:to="arl_FortWorthTexasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_FortWorthTexasMember_lbl" xml:lang="en-US">Fort Worth Texas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MaryEsterFloridaMember" xlink:label="arl_MaryEsterFloridaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MaryEsterFloridaMember" xlink:to="arl_MaryEsterFloridaMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MaryEsterFloridaMember_lbl" xml:lang="en-US">Mary Ester, Florida [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AthensAlabamaMember" xlink:label="arl_AthensAlabamaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AthensAlabamaMember" xlink:to="arl_AthensAlabamaMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AthensAlabamaMember_lbl" xml:lang="en-US">Athens, Alabama [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US">Debt Instrument [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesPayableMember" xlink:label="arl_NotesPayableMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableMember" xlink:to="arl_NotesPayableMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesPayableMember_lbl" xml:lang="en-US">Note Payable [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_CollinCountyTexasMember" xlink:label="arl_CollinCountyTexasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CollinCountyTexasMember" xlink:to="arl_CollinCountyTexasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_CollinCountyTexasMember_lbl" xml:lang="en-US">Collin County, Texas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ThirdPartyLandDeveloperMember" xlink:label="arl_ThirdPartyLandDeveloperMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ThirdPartyLandDeveloperMember" xlink:to="arl_ThirdPartyLandDeveloperMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ThirdPartyLandDeveloperMember_lbl" xml:lang="en-US">Third Party Land Developer [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_lbl" xml:lang="en-US">Restricted Cash and Cash Equivalents [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_HeldInEscrowMember" xlink:label="arl_HeldInEscrowMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_HeldInEscrowMember" xlink:to="arl_HeldInEscrowMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_HeldInEscrowMember_lbl" xml:lang="en-US">Held In Escrow [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="us-gaap_CertificatesOfDepositMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CertificatesOfDepositMember" xlink:to="us-gaap_CertificatesOfDepositMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CertificatesOfDepositMember_lbl" xml:lang="en-US">Certificates of Deposit [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_HeldWithTrusteeMember" xlink:label="arl_HeldWithTrusteeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_HeldWithTrusteeMember" xlink:to="arl_HeldWithTrusteeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_HeldWithTrusteeMember_lbl" xml:lang="en-US">Held with Trustee [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancialInstrumentPerformanceStatusAxis" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentPerformanceStatusAxis" xlink:to="us-gaap_FinancialInstrumentPerformanceStatusAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentPerformanceStatusAxis_lbl" xml:lang="en-US">Financial Instrument Performance Status [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PerformingFinancingReceivableMember" xlink:label="us-gaap_PerformingFinancingReceivableMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PerformingFinancingReceivableMember" xlink:to="us-gaap_PerformingFinancingReceivableMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PerformingFinancingReceivableMember_lbl" xml:lang="en-US">Performing Loans [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_lbl" xml:lang="en-US">Receivable Type [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ProspectusEndeavorsFourLLCMember" xlink:label="arl_ProspectusEndeavorsFourLLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavorsFourLLCMember" xlink:to="arl_ProspectusEndeavorsFourLLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ProspectusEndeavorsFourLLCMember_lbl" xml:lang="en-US">Prospectus Endeavors 4, LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ProspectusEndeavorsSixLLCMember" xlink:label="arl_ProspectusEndeavorsSixLLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavorsSixLLCMember" xlink:to="arl_ProspectusEndeavorsSixLLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ProspectusEndeavorsSixLLCMember_lbl" xml:lang="en-US">Prospectus Endeavors 6, LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OulanChikhFamilyTrustMember" xlink:label="arl_OulanChikhFamilyTrustMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OulanChikhFamilyTrustMember" xlink:to="arl_OulanChikhFamilyTrustMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OulanChikhFamilyTrustMember_lbl" xml:lang="en-US">Oulan-Chikh Family Trust [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_H198LLCMcKinneyRanchLandMember" xlink:label="arl_H198LLCMcKinneyRanchLandMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_H198LLCMcKinneyRanchLandMember" xlink:to="arl_H198LLCMcKinneyRanchLandMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_H198LLCMcKinneyRanchLandMember_lbl" xml:lang="en-US">H198, LLC (McKinney Ranch Land) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ForestPinesMember" xlink:label="arl_ForestPinesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ForestPinesMember" xlink:to="arl_ForestPinesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ForestPinesMember_lbl" xml:lang="en-US">Forest Pines [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SpyglassApartmentsofEnnisLPMember" xlink:label="arl_SpyglassApartmentsofEnnisLPMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SpyglassApartmentsofEnnisLPMember" xlink:to="arl_SpyglassApartmentsofEnnisLPMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SpyglassApartmentsofEnnisLPMember_lbl" xml:lang="en-US">Spyglass Apartments of Ennis, LP [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BellwetherRidgeMember" xlink:label="arl_BellwetherRidgeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BellwetherRidgeMember" xlink:to="arl_BellwetherRidgeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BellwetherRidgeMember_lbl" xml:lang="en-US">Bellwether Ridge [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ParcatWindmillFarmsMember" xlink:label="arl_ParcatWindmillFarmsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ParcatWindmillFarmsMember" xlink:to="arl_ParcatWindmillFarmsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ParcatWindmillFarmsMember_lbl" xml:lang="en-US">Parc at Windmill Farms [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RAIPFBL2018PurchFeeNoteWeatherfordMember" xlink:label="arl_RAIPFBL2018PurchFeeNoteWeatherfordMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RAIPFBL2018PurchFeeNoteWeatherfordMember" xlink:to="arl_RAIPFBL2018PurchFeeNoteWeatherfordMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RAIPFBL2018PurchFeeNoteWeatherfordMember_lbl" xml:lang="en-US">RAI PFBL 2018 Purch Fee Note Weatherford [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AutumnBreezeMember" xlink:label="arl_AutumnBreezeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AutumnBreezeMember" xlink:to="arl_AutumnBreezeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AutumnBreezeMember_lbl" xml:lang="en-US">Autumn Breeze [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PlumTreeMember" xlink:label="arl_PlumTreeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PlumTreeMember" xlink:to="arl_PlumTreeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PlumTreeMember_lbl" xml:lang="en-US">Plum Tree [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InglesideMember" xlink:label="arl_InglesideMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InglesideMember" xlink:to="arl_InglesideMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_InglesideMember_lbl" xml:lang="en-US">Ingleside [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RNCMember" xlink:label="arl_RNCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RNCMember" xlink:to="arl_RNCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RNCMember_lbl" xml:lang="en-US">RNC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RevolvingLineOfCreditSteepleCrestMember" xlink:label="arl_RevolvingLineOfCreditSteepleCrestMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RevolvingLineOfCreditSteepleCrestMember" xlink:to="arl_RevolvingLineOfCreditSteepleCrestMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RevolvingLineOfCreditSteepleCrestMember_lbl" xml:lang="en-US">Revolving Line of Credit Steeple Crest [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncKensingtonParkMember" xlink:label="arl_UnifiedHousingFoundationIncKensingtonParkMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncKensingtonParkMember" xlink:to="arl_UnifiedHousingFoundationIncKensingtonParkMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncKensingtonParkMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Echo Station) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLakeshoreVillasMember" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasMember" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Inwood on the Park) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLakeshoreVillas1Member" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillas1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillas1Member" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillas1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillas1Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Kensington Park) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLimestoneRanch1Member" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanch1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanch1Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanch1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanch1Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLimestoneRanch2Member" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanch2Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanch2Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanch2Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanch2Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncTimbersofTerrellMember" xlink:label="arl_UnifiedHousingFoundationIncTimbersofTerrellMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTimbersofTerrellMember" xlink:to="arl_UnifiedHousingFoundationIncTimbersofTerrellMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncTimbersofTerrellMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Reserve at White Rock Phase I) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncTivoliMember" xlink:label="arl_UnifiedHousingFoundationIncTivoliMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTivoliMember" xlink:to="arl_UnifiedHousingFoundationIncTivoliMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncTivoliMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Reserve at White Rock Phase II) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember" xlink:label="arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember" xlink:to="arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Trails at White Rock) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc1Member" xlink:label="arl_UnifiedHousingFoundationInc1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc1Member" xlink:to="arl_UnifiedHousingFoundationInc1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc1Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Tivoli) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc2Member" xlink:label="arl_UnifiedHousingFoundationInc2Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc2Member" xlink:to="arl_UnifiedHousingFoundationInc2Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc2Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Trails at White Rock) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc4Member" xlink:label="arl_UnifiedHousingFoundationInc4Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc4Member" xlink:to="arl_UnifiedHousingFoundationInc4Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc4Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. #4 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc5Member" xlink:label="arl_UnifiedHousingFoundationInc5Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc5Member" xlink:to="arl_UnifiedHousingFoundationInc5Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc5Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. #5 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc6Member" xlink:label="arl_UnifiedHousingFoundationInc6Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc6Member" xlink:to="arl_UnifiedHousingFoundationInc6Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc6Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. #6 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLimestoneRanc42Member" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanc42Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanc42Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanc42Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanc42Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Marquis at Vista Ridge) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Timbers at the Park) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Trails at White Rock) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Bella Vista) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc7Member" xlink:label="arl_UnifiedHousingFoundationInc7Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc7Member" xlink:to="arl_UnifiedHousingFoundationInc7Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc7Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. #7 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc8Member" xlink:label="arl_UnifiedHousingFoundationInc8Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc8Member" xlink:to="arl_UnifiedHousingFoundationInc8Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc8Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. #8 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LoansReceivable1Member" xlink:label="arl_LoansReceivable1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LoansReceivable1Member" xlink:to="arl_LoansReceivable1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LoansReceivable1Member_lbl" xml:lang="en-US">Realty Advisors Mgmt [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansReceivableMember" xlink:label="us-gaap_LoansReceivableMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansReceivableMember" xlink:to="us-gaap_LoansReceivableMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansReceivableMember_lbl" xml:lang="en-US">One Realco Corp [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OtherRelatedPartyNotesMember" xlink:label="arl_OtherRelatedPartyNotesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherRelatedPartyNotesMember" xlink:to="arl_OtherRelatedPartyNotesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OtherRelatedPartyNotesMember_lbl" xml:lang="en-US">Other Related Party Notes [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OtherNonRelatedPartyNotesMember" xlink:label="arl_OtherNonRelatedPartyNotesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherNonRelatedPartyNotesMember" xlink:to="arl_OtherNonRelatedPartyNotesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OtherNonRelatedPartyNotesMember_lbl" xml:lang="en-US">Other Non-Related Party Notes [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_GruppaFlorentinaLlcMember" xlink:label="arl_GruppaFlorentinaLlcMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GruppaFlorentinaLlcMember" xlink:to="arl_GruppaFlorentinaLlcMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_GruppaFlorentinaLlcMember_lbl" xml:lang="en-US">Gruppa Florentina LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MilanoMember" xlink:label="arl_MilanoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MilanoMember" xlink:to="arl_MilanoMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MilanoMember_lbl" xml:lang="en-US">Milano [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FranchisorDisclosureAxis" xlink:label="us-gaap_FranchisorDisclosureAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FranchisorDisclosureAxis" xlink:to="us-gaap_FranchisorDisclosureAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FranchisorDisclosureAxis_lbl" xml:lang="en-US">Franchisor Disclosure [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FranchisedUnitsMember" xlink:label="us-gaap_FranchisedUnitsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FranchisedUnitsMember" xlink:to="us-gaap_FranchisedUnitsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FranchisedUnitsMember_lbl" xml:lang="en-US">Franchised Units [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MeNEdsPizzaParlorsMember" xlink:label="arl_MeNEdsPizzaParlorsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MeNEdsPizzaParlorsMember" xlink:to="arl_MeNEdsPizzaParlorsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MeNEdsPizzaParlorsMember_lbl" xml:lang="en-US">Me-N-Ed's Pizza Parlors [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PiazzaDelPaneIncMember" xlink:label="arl_PiazzaDelPaneIncMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PiazzaDelPaneIncMember" xlink:to="arl_PiazzaDelPaneIncMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PiazzaDelPaneIncMember_lbl" xml:lang="en-US">Piazza del Pane, Inc. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_Blast825PizzaMember" xlink:label="arl_Blast825PizzaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_Blast825PizzaMember" xlink:to="arl_Blast825PizzaMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_Blast825PizzaMember_lbl" xml:lang="en-US">Blast 825 Pizza [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SienaCorpMember" xlink:label="arl_SienaCorpMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SienaCorpMember" xlink:to="arl_SienaCorpMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SienaCorpMember_lbl" xml:lang="en-US">Siena Corp [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AngeloAndVitosPizzeriasMember" xlink:label="arl_AngeloAndVitosPizzeriasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AngeloAndVitosPizzeriasMember" xlink:to="arl_AngeloAndVitosPizzeriasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AngeloAndVitosPizzeriasMember_lbl" xml:lang="en-US">Angelo &amp; Vito's Pizzerias [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesPayableOtherPayables6Member" xlink:label="arl_NotesPayableOtherPayables6Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables6Member" xlink:to="arl_NotesPayableOtherPayables6Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesPayableOtherPayables6Member_lbl" xml:lang="en-US">Apartments [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesPayableOtherPayables8Member" xlink:label="arl_NotesPayableOtherPayables8Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables8Member" xlink:to="arl_NotesPayableOtherPayables8Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesPayableOtherPayables8Member_lbl" xml:lang="en-US">Apartments Under Construction [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesPayableOtherPayables1Member" xlink:label="arl_NotesPayableOtherPayables1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables1Member" xlink:to="arl_NotesPayableOtherPayables1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesPayableOtherPayables1Member_lbl" xml:lang="en-US">Commercial [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesPayableOtherPayables2Member" xlink:label="arl_NotesPayableOtherPayables2Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables2Member" xlink:to="arl_NotesPayableOtherPayables2Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesPayableOtherPayables2Member_lbl" xml:lang="en-US">Land [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesPayableOtherPayables5Member" xlink:label="arl_NotesPayableOtherPayables5Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables5Member" xlink:to="arl_NotesPayableOtherPayables5Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesPayableOtherPayables5Member_lbl" xml:lang="en-US">Corporate and Other Notes [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NonconvertibleDebenturesMember" xlink:label="arl_NonconvertibleDebenturesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebenturesMember" xlink:to="arl_NonconvertibleDebenturesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NonconvertibleDebenturesMember_lbl" xml:lang="en-US">Bonds Series A [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NonconvertibleDebenturesMember1Member" xlink:label="arl_NonconvertibleDebenturesMember1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebenturesMember1Member" xlink:to="arl_NonconvertibleDebenturesMember1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NonconvertibleDebenturesMember1Member_lbl" xml:lang="en-US">Nonconvertible Series B Bonds [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BondsSeriesBExpansionMember" xlink:label="arl_BondsSeriesBExpansionMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsSeriesBExpansionMember" xlink:to="arl_BondsSeriesBExpansionMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BondsSeriesBExpansionMember_lbl" xml:lang="en-US">Bonds (Series B expansion) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BondsSeriesCMember" xlink:label="arl_BondsSeriesCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsSeriesCMember" xlink:to="arl_BondsSeriesCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BondsSeriesCMember_lbl" xml:lang="en-US">Bonds (Series C) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BondsPayableMember" xlink:label="arl_BondsPayableMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsPayableMember" xlink:to="arl_BondsPayableMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BondsPayableMember_lbl" xml:lang="en-US">Bonds [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CurrencyAxis" xlink:to="srt_CurrencyAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CurrencyAxis_lbl" xml:lang="en-US">Currency [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/currency/2019/currency-2019-01-31.xsd#currency_ILS" xlink:label="currency_ILS" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_ILS" xlink:to="currency_ILS_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="currency_ILS_lbl" xml:lang="en-US">Israel, New Shekels</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="us-gaap_SubsequentEventTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US">Subsequent Event [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ConsolidatedEntitiesAxis" xlink:label="srt_ConsolidatedEntitiesAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidatedEntitiesAxis" xlink:to="srt_ConsolidatedEntitiesAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidatedEntitiesAxis_lbl" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_SubsidiariesMember" xlink:label="srt_SubsidiariesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SubsidiariesMember" xlink:to="srt_SubsidiariesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SubsidiariesMember_lbl" xml:lang="en-US">Southern Properties Capital LTD [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SeriesBBondsMember" xlink:label="arl_SeriesBBondsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SeriesBBondsMember" xlink:to="arl_SeriesBBondsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SeriesBBondsMember_lbl" xml:lang="en-US">Series B Bonds [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NonconvertibleDebentures1Member" xlink:label="arl_NonconvertibleDebentures1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebentures1Member" xlink:to="arl_NonconvertibleDebentures1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_NonconvertibleDebentures1Member_lbl" xml:lang="en-US">Nonconvertible Series B Bonds [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NonconvertibleDebentures11Member" xlink:label="arl_NonconvertibleDebentures11Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebentures11Member" xlink:to="arl_NonconvertibleDebentures11Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NonconvertibleDebentures11Member_lbl" xml:lang="en-US">Nonconvertible Series C Bonds [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_AffiliatedEntityMember" xlink:label="srt_AffiliatedEntityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_AffiliatedEntityMember" xlink:to="srt_AffiliatedEntityMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_AffiliatedEntityMember_lbl" xml:lang="en-US">Pillar Income Asset Management, Inc [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AffiliatedEntity1Member" xlink:label="arl_AffiliatedEntity1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AffiliatedEntity1Member" xlink:to="arl_AffiliatedEntity1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AffiliatedEntity1Member_lbl" xml:lang="en-US">Regis Realty Prime, LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncMember" xlink:label="arl_UnifiedHousingFoundationIncMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncMember" xlink:to="arl_UnifiedHousingFoundationIncMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncMember_lbl" xml:lang="en-US">Unified Housing Foundation Inc [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesPayableOtherPayables4Member" xlink:label="arl_NotesPayableOtherPayables4Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables4Member" xlink:to="arl_NotesPayableOtherPayables4Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesPayableOtherPayables4Member_lbl" xml:lang="en-US">Mezzanine Financing [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyMember" xlink:to="arl_RelatedPartyMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_RelatedPartyMember_2_lbl" xml:lang="en-US">Related Party [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="us-gaap_StatementBusinessSegmentsAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementBusinessSegmentsAxis_lbl" xml:lang="en-US">Segments [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_CommercialSegmentsMember" xlink:label="arl_CommercialSegmentsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CommercialSegmentsMember" xlink:to="arl_CommercialSegmentsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_CommercialSegmentsMember_lbl" xml:lang="en-US">Commercial Properties [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="srt_ConsolidationItemsAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ConsolidationItemsAxis" xlink:to="srt_ConsolidationItemsAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidationItemsAxis_lbl" xml:lang="en-US">Consolidation Items [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingSegmentsMember" xlink:label="us-gaap_OperatingSegmentsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingSegmentsMember" xlink:to="us-gaap_OperatingSegmentsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingSegmentsMember_lbl" xml:lang="en-US">Operating Segments [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ApartmentsSegmentsMember" xlink:label="arl_ApartmentsSegmentsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentsSegmentsMember" xlink:to="arl_ApartmentsSegmentsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_ApartmentsSegmentsMember_lbl" xml:lang="en-US">Apartments [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LandSegmentsMember" xlink:label="arl_LandSegmentsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandSegmentsMember" xlink:to="arl_LandSegmentsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_LandSegmentsMember_lbl" xml:lang="en-US">Land [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OtherMember" xlink:label="arl_OtherMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherMember" xlink:to="arl_OtherMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OtherMember_lbl" xml:lang="en-US">Other [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MaterialReconcilingItemsMember" xlink:label="us-gaap_MaterialReconcilingItemsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaterialReconcilingItemsMember" xlink:to="us-gaap_MaterialReconcilingItemsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MaterialReconcilingItemsMember_lbl" xml:lang="en-US">Segment Reconciling Items [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_LitigationCaseAxis" xlink:label="srt_LitigationCaseAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_LitigationCaseAxis" xlink:to="srt_LitigationCaseAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_LitigationCaseAxis_lbl" xml:lang="en-US">Litigation Case [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_IndividualShareholderMember" xlink:label="arl_IndividualShareholderMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_IndividualShareholderMember" xlink:to="arl_IndividualShareholderMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_IndividualShareholderMember_lbl" xml:lang="en-US">Individual Shareholder [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LitigationStatusAxis" xlink:label="us-gaap_LitigationStatusAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LitigationStatusAxis" xlink:to="us-gaap_LitigationStatusAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LitigationStatusAxis_lbl" xml:lang="en-US">Litigation Status [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_JudicialRulingMember" xlink:label="us-gaap_JudicialRulingMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_JudicialRulingMember" xlink:to="us-gaap_JudicialRulingMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_JudicialRulingMember_lbl" xml:lang="en-US">Dynex Capital, Inc.Litigation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BasicEntityMember" xlink:label="arl_BasicEntityMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BasicEntityMember" xlink:to="arl_BasicEntityMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BasicEntityMember_lbl" xml:lang="en-US">Basic Capital Management, Inc. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_EquityMethodInvestee4Member" xlink:label="arl_EquityMethodInvestee4Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInvestee4Member" xlink:to="arl_EquityMethodInvestee4Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_EquityMethodInvestee4Member_lbl" xml:lang="en-US">American Reality Trust, Inc. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ClapperPartiesMember" xlink:label="arl_ClapperPartiesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ClapperPartiesMember" xlink:to="arl_ClapperPartiesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ClapperPartiesMember_lbl" xml:lang="en-US">ART and ART Midwest, Inc. Litigation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GuaranteeObligationsByNatureAxis" xlink:label="us-gaap_GuaranteeObligationsByNatureAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GuaranteeObligationsByNatureAxis" xlink:to="us-gaap_GuaranteeObligationsByNatureAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GuaranteeObligationsByNatureAxis_lbl" xml:lang="en-US">Guarantor Obligations, Nature [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FinancialGuarantee1Member" xlink:label="arl_FinancialGuarantee1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FinancialGuarantee1Member" xlink:to="arl_FinancialGuarantee1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_FinancialGuarantee1Member_lbl" xml:lang="en-US">UHF Debt Guarantee [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RAIMember" xlink:label="arl_RAIMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RAIMember" xlink:to="arl_RAIMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RAIMember_lbl" xml:lang="en-US">RAI [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis" xlink:label="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis" xlink:to="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis_lbl" xml:lang="en-US">Mortgage Loans On Real Estate Description Type Of Property Category [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PropertiesHeldforInvestmentCorporateDebtMember" xlink:label="arl_PropertiesHeldforInvestmentCorporateDebtMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PropertiesHeldforInvestmentCorporateDebtMember" xlink:to="arl_PropertiesHeldforInvestmentCorporateDebtMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PropertiesHeldforInvestmentCorporateDebtMember_lbl" xml:lang="en-US">Properties Held for Investment/Corporate Debt [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PropertiesHeldforInvestmentApartmentsMember" xlink:label="arl_PropertiesHeldforInvestmentApartmentsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PropertiesHeldforInvestmentApartmentsMember" xlink:to="arl_PropertiesHeldforInvestmentApartmentsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PropertiesHeldforInvestmentApartmentsMember_lbl" xml:lang="en-US">Properties Held for Investment Apartments [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LegacyatPleasantGroveTexarkanaTXMember" xlink:label="arl_LegacyatPleasantGroveTexarkanaTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LegacyatPleasantGroveTexarkanaTXMember" xlink:to="arl_LegacyatPleasantGroveTexarkanaTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LegacyatPleasantGroveTexarkanaTXMember_lbl" xml:lang="en-US">Legacy at Pleasant Grove, Texarkana [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ToulonGautierMSMember" xlink:label="arl_ToulonGautierMSMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ToulonGautierMSMember" xlink:to="arl_ToulonGautierMSMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ToulonGautierMSMember_lbl" xml:lang="en-US">Toulon, Gautier [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_VillagerFt.WaltonFLMember" xlink:label="arl_VillagerFt.WaltonFLMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VillagerFt.WaltonFLMember" xlink:to="arl_VillagerFt.WaltonFLMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_VillagerFt.WaltonFLMember_lbl" xml:lang="en-US">Villager, Ft. Walton [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_VillasAtBonSecourGulfShoresMember" xlink:label="arl_VillasAtBonSecourGulfShoresMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VillasAtBonSecourGulfShoresMember" xlink:to="arl_VillasAtBonSecourGulfShoresMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_VillasAtBonSecourGulfShoresMember_lbl" xml:lang="en-US">Villas at Bon Secour, Gulf Shores [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_VistaRidgeTupeloMSMember" xlink:label="arl_VistaRidgeTupeloMSMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VistaRidgeTupeloMSMember" xlink:to="arl_VistaRidgeTupeloMSMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_VistaRidgeTupeloMSMember_lbl" xml:lang="en-US">Vista Ridge, Tupelo [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ChelseaBeaumontMember" xlink:label="arl_ChelseaBeaumontMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ChelseaBeaumontMember" xlink:to="arl_ChelseaBeaumontMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ChelseaBeaumontMember_lbl" xml:lang="en-US">Chelsea, Beaumont [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ApartmentsUnderConstructionMember" xlink:label="arl_ApartmentsUnderConstructionMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentsUnderConstructionMember" xlink:to="arl_ApartmentsUnderConstructionMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_ApartmentsUnderConstructionMember_lbl" xml:lang="en-US">Apartments Under Construction [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OverlookAtAllensvilleSquareIISeviervilleTNMember" xlink:label="arl_OverlookAtAllensvilleSquareIISeviervilleTNMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OverlookAtAllensvilleSquareIISeviervilleTNMember" xlink:to="arl_OverlookAtAllensvilleSquareIISeviervilleTNMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OverlookAtAllensvilleSquareIISeviervilleTNMember_lbl" xml:lang="en-US">Overlook at Allensville Square II, Sevierville [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LandingHoumaMember" xlink:label="arl_LandingHoumaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandingHoumaMember" xlink:to="arl_LandingHoumaMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LandingHoumaMember_lbl" xml:lang="en-US">Landing, Houma [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FarnhamParkPortAurtherMember" xlink:label="arl_FarnhamParkPortAurtherMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FarnhamParkPortAurtherMember" xlink:to="arl_FarnhamParkPortAurtherMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_FarnhamParkPortAurtherMember_lbl" xml:lang="en-US">Farnham Park, Port Aurther [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember" xlink:label="arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember" xlink:to="arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember_lbl" xml:lang="en-US">Parc at Denham Springs Phase II, Denham Springs [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd#stpr_LA" xlink:label="stpr_LA" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_LA" xlink:to="stpr_LA_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="stpr_LA_lbl" xml:lang="en-US">LOUISIANA</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SugarMillIIMember" xlink:label="arl_SugarMillIIMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SugarMillIIMember" xlink:to="arl_SugarMillIIMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SugarMillIIMember_lbl" xml:lang="en-US">Sugar Mill III, Addis [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_McKinneyAptsAtHeritageMcKinneyMember" xlink:label="arl_McKinneyAptsAtHeritageMcKinneyMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_McKinneyAptsAtHeritageMcKinneyMember" xlink:to="arl_McKinneyAptsAtHeritageMcKinneyMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_McKinneyAptsAtHeritageMcKinneyMember_lbl" xml:lang="en-US">McKinney Apts at Heritage, McKinney [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ForestPinesPhaseIIForestGroveBryanMember" xlink:label="arl_ForestPinesPhaseIIForestGroveBryanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ForestPinesPhaseIIForestGroveBryanMember" xlink:to="arl_ForestPinesPhaseIIForestGroveBryanMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ForestPinesPhaseIIForestGroveBryanMember_lbl" xml:lang="en-US">Forest Pines Phase II (Forest Grove), Bryan [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LDAthensLindsayLnAthensMember" xlink:label="arl_LDAthensLindsayLnAthensMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LDAthensLindsayLnAthensMember" xlink:to="arl_LDAthensLindsayLnAthensMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LDAthensLindsayLnAthensMember_lbl" xml:lang="en-US">LD Athens Lindsay Ln, Athens [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_CommercialHeldforInvestmentMember" xlink:label="arl_CommercialHeldforInvestmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CommercialHeldforInvestmentMember" xlink:to="arl_CommercialHeldforInvestmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_CommercialHeldforInvestmentMember_lbl" xml:lang="en-US">Commercial Held for Investment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LasColinasLasColinasTXMember" xlink:label="arl_LasColinasLasColinasTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LasColinasLasColinasTXMember" xlink:to="arl_LasColinasLasColinasTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LasColinasLasColinasTXMember_lbl" xml:lang="en-US">600 Las Colinass, Las Colinas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SouthPostOakHoustonTXMember" xlink:label="arl_SouthPostOakHoustonTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SouthPostOakHoustonTXMember" xlink:to="arl_SouthPostOakHoustonTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SouthPostOakHoustonTXMember_lbl" xml:lang="en-US">770 South Post Oak, Houston [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BridgeviewPlazaLaCrosseWIMember" xlink:label="arl_BridgeviewPlazaLaCrosseWIMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BridgeviewPlazaLaCrosseWIMember" xlink:to="arl_BridgeviewPlazaLaCrosseWIMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BridgeviewPlazaLaCrosseWIMember_lbl" xml:lang="en-US">Bridgeview Plaza, LaCrosse [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd#stpr_WI" xlink:label="stpr_WI" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_WI" xlink:to="stpr_WI_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_WI_lbl" xml:lang="en-US">WISCONSIN</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BrowningPlaceParkWestIFarmersBranchTXMember" xlink:label="arl_BrowningPlaceParkWestIFarmersBranchTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BrowningPlaceParkWestIFarmersBranchTXMember" xlink:to="arl_BrowningPlaceParkWestIFarmersBranchTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BrowningPlaceParkWestIFarmersBranchTXMember_lbl" xml:lang="en-US">Browning Place (Park West I), Farmers Branch [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FruitlandPlazaFruitlandParkFLMember" xlink:label="arl_FruitlandPlazaFruitlandParkFLMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FruitlandPlazaFruitlandParkFLMember" xlink:to="arl_FruitlandPlazaFruitlandParkFLMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_FruitlandPlazaFruitlandParkFLMember_lbl" xml:lang="en-US">Fruitland Plaza, Fruitland Park [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SenlacVHPFarmersBranchTXMember" xlink:label="arl_SenlacVHPFarmersBranchTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SenlacVHPFarmersBranchTXMember" xlink:to="arl_SenlacVHPFarmersBranchTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SenlacVHPFarmersBranchTXMember_lbl" xml:lang="en-US">Senlac VHP, Farmers Branch [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_StanfordCenterDallasTXMember" xlink:label="arl_StanfordCenterDallasTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_StanfordCenterDallasTXMember" xlink:to="arl_StanfordCenterDallasTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_StanfordCenterDallasTXMember_lbl" xml:lang="en-US">Stanford Center, Dallas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LandHeldforInvestmentMember" xlink:label="arl_LandHeldforInvestmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandHeldforInvestmentMember" xlink:to="arl_LandHeldforInvestmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LandHeldforInvestmentMember_lbl" xml:lang="en-US">Land Held for Investment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DedeauxGulfportMSMember" xlink:label="arl_DedeauxGulfportMSMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DedeauxGulfportMSMember" xlink:to="arl_DedeauxGulfportMSMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DedeauxGulfportMSMember_lbl" xml:lang="en-US">Dedeaux, Gulfport [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_GautierLandGautierMSMember" xlink:label="arl_GautierLandGautierMSMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GautierLandGautierMSMember" xlink:to="arl_GautierLandGautierMSMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_GautierLandGautierMSMember_lbl" xml:lang="en-US">Gautier Land, Gautier [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LakeShoreVillasHumbleTXMember" xlink:label="arl_LakeShoreVillasHumbleTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LakeShoreVillasHumbleTXMember" xlink:to="arl_LakeShoreVillasHumbleTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LakeShoreVillasHumbleTXMember_lbl" xml:lang="en-US">Lake Shore Villas, Humble [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LubbockLandLubbockTXMember" xlink:label="arl_LubbockLandLubbockTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LubbockLandLubbockTXMember" xlink:to="arl_LubbockLandLubbockTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LubbockLandLubbockTXMember_lbl" xml:lang="en-US">Lubbock Land, Lubbock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OceanEstatesGulfportMSMember" xlink:label="arl_OceanEstatesGulfportMSMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OceanEstatesGulfportMSMember" xlink:to="arl_OceanEstatesGulfportMSMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OceanEstatesGulfportMSMember_lbl" xml:lang="en-US">Ocean Estates, Gulfport [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnionPacificRailroadLandDallasTXMember" xlink:label="arl_UnionPacificRailroadLandDallasTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnionPacificRailroadLandDallasTXMember" xlink:to="arl_UnionPacificRailroadLandDallasTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnionPacificRailroadLandDallasTXMember_lbl" xml:lang="en-US">Union Pacific Railroad Land, Dallas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_WillowickLandPensacolaFLMember" xlink:label="arl_WillowickLandPensacolaFLMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_WillowickLandPensacolaFLMember" xlink:to="arl_WillowickLandPensacolaFLMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_WillowickLandPensacolaFLMember_lbl" xml:lang="en-US">Willowick Land, Pensacola [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_WindmillFarmsLandKaufmanCountyTXMember" xlink:label="arl_WindmillFarmsLandKaufmanCountyTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_WindmillFarmsLandKaufmanCountyTXMember" xlink:to="arl_WindmillFarmsLandKaufmanCountyTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_WindmillFarmsLandKaufmanCountyTXMember_lbl" xml:lang="en-US">Windmill Farms Land, Kaufman County [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember" xlink:label="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember" xlink:to="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember_lbl" xml:lang="en-US">Windmill Farms Land, Kaufman County [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TPalmDesertRiversideMember" xlink:label="arl_TPalmDesertRiversideMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TPalmDesertRiversideMember" xlink:to="arl_TPalmDesertRiversideMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TPalmDesertRiversideMember_lbl" xml:lang="en-US">T Palm Desert, Riverside [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CA" xlink:label="country_CA" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CA" xlink:to="country_CA_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_CA_lbl" xml:lang="en-US">CANADA</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LacyLonghornLandFarmersBranchTXMember" xlink:label="arl_LacyLonghornLandFarmersBranchTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LacyLonghornLandFarmersBranchTXMember" xlink:to="arl_LacyLonghornLandFarmersBranchTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LacyLonghornLandFarmersBranchTXMember_lbl" xml:lang="en-US">Lacy Longhorn Land, Farmers Branch [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LacyLonghornLandFarmersBranchTXAdjustmentMember" xlink:label="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember" xlink:to="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember_lbl" xml:lang="en-US">Lacy Longhorn Land, Farmers Branch [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MinivestLandDallasTXMember" xlink:label="arl_MinivestLandDallasTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MinivestLandDallasTXMember" xlink:to="arl_MinivestLandDallasTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MinivestLandDallasTXMember_lbl" xml:lang="en-US">Minivest Land, Dallas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NicholsonCroslinDallasTXMember" xlink:label="arl_NicholsonCroslinDallasTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonCroslinDallasTXMember" xlink:to="arl_NicholsonCroslinDallasTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NicholsonCroslinDallasTXMember_lbl" xml:lang="en-US">Nicholson Croslin, Dallas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NicholsonCroslinDallasTXAdjustmentMember" xlink:label="arl_NicholsonCroslinDallasTXAdjustmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonCroslinDallasTXAdjustmentMember" xlink:to="arl_NicholsonCroslinDallasTXAdjustmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_NicholsonCroslinDallasTXAdjustmentMember_lbl" xml:lang="en-US">Nicholson Croslin, Dallas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NicholsonMendozaDallasTXMember" xlink:label="arl_NicholsonMendozaDallasTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonMendozaDallasTXMember" xlink:to="arl_NicholsonMendozaDallasTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NicholsonMendozaDallasTXMember_lbl" xml:lang="en-US">Nicholson Mendoza, Dallas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NicholsonMendozaDallasTXAdjustmentMember" xlink:label="arl_NicholsonMendozaDallasTXAdjustmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonMendozaDallasTXAdjustmentMember" xlink:to="arl_NicholsonMendozaDallasTXAdjustmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_NicholsonMendozaDallasTXAdjustmentMember_lbl" xml:lang="en-US">Nicholson Mendoza, Dallas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MercerCrossingFarmersBranchMember" xlink:label="arl_MercerCrossingFarmersBranchMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MercerCrossingFarmersBranchMember" xlink:to="arl_MercerCrossingFarmersBranchMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MercerCrossingFarmersBranchMember_lbl" xml:lang="en-US">Mercer Crossing, Farmers Branch [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_McKinney36CollinCountyTXMember" xlink:label="arl_McKinney36CollinCountyTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_McKinney36CollinCountyTXMember" xlink:to="arl_McKinney36CollinCountyTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_McKinney36CollinCountyTXMember_lbl" xml:lang="en-US">McKinney 36, Collin County [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TravisRanchLandKaufmanCountyTXMember" xlink:label="arl_TravisRanchLandKaufmanCountyTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TravisRanchLandKaufmanCountyTXMember" xlink:to="arl_TravisRanchLandKaufmanCountyTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TravisRanchLandKaufmanCountyTXMember_lbl" xml:lang="en-US">Travis Ranch Land, Kaufman County [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LandHeldforInvestmentAdjustmentMember" xlink:label="arl_LandHeldforInvestmentAdjustmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandHeldforInvestmentAdjustmentMember" xlink:to="arl_LandHeldforInvestmentAdjustmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_LandHeldforInvestmentAdjustmentMember_lbl" xml:lang="en-US">Land Held for Investment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_JuniorLoansMember" xlink:label="us-gaap_JuniorLoansMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_JuniorLoansMember" xlink:to="us-gaap_JuniorLoansMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_JuniorLoansMember_lbl" xml:lang="en-US">Mortgage Loans [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstateLoanTypeAxis" xlink:label="srt_MortgageLoansOnRealEstateLoanTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateLoanTypeAxis" xlink:to="srt_MortgageLoansOnRealEstateLoanTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateLoanTypeAxis_lbl" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OneRealcoCorporationMember" xlink:label="arl_OneRealcoCorporationMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OneRealcoCorporationMember" xlink:to="arl_OneRealcoCorporationMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OneRealcoCorporationMember_lbl" xml:lang="en-US">One Realco Corporation [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealtyAdvisorsManagementIncMember" xlink:label="arl_RealtyAdvisorsManagementIncMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealtyAdvisorsManagementIncMember" xlink:to="arl_RealtyAdvisorsManagementIncMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealtyAdvisorsManagementIncMember_lbl" xml:lang="en-US">Realty Advisors Management, Inc.[Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember" xlink:label="arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember" xlink:to="arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Terraces of Marine Creek/Blue Lake at Marine Creek) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncWalnutParkCrossingMember" xlink:label="arl_UnifiedHousingFoundationIncWalnutParkCrossingMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncWalnutParkCrossingMember" xlink:to="arl_UnifiedHousingFoundationIncWalnutParkCrossingMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncWalnutParkCrossingMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Walnut Park Crossing) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember" xlink:label="arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember" xlink:to="arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Inwood on the Park/UH of Inwood, LLC) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember" xlink:label="arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember" xlink:to="arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Kensington Park/UH of Kensington, LLC) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ProspectusEndeavors4LLCMember" xlink:label="arl_ProspectusEndeavors4LLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavors4LLCMember" xlink:to="arl_ProspectusEndeavors4LLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_ProspectusEndeavors4LLCMember_lbl" xml:lang="en-US">Prospectus Endeavors 4, LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ProspectusEndeavors6LLCMember" xlink:label="arl_ProspectusEndeavors6LLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavors6LLCMember" xlink:to="arl_ProspectusEndeavors6LLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_ProspectusEndeavors6LLCMember_lbl" xml:lang="en-US">Prospectus Endeavors 6, LLC [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_H198LLCMember" xlink:label="arl_H198LLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_H198LLCMember" xlink:to="arl_H198LLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_H198LLCMember_lbl" xml:lang="en-US">H198, LLC McKinney Ranch Land [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncEchoStationMember" xlink:label="arl_UnifiedHousingFoundationIncEchoStationMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncEchoStationMember" xlink:to="arl_UnifiedHousingFoundationIncEchoStationMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncEchoStationMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Echo Station) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC) [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTimbersofTerrellMember" xlink:to="arl_UnifiedHousingFoundationIncTimbersofTerrellMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncTimbersofTerrellMember_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc. (Timbers of Terrell) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember" xlink:label="arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember" xlink:to="arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc (2015 Advisory Fee) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember" xlink:label="arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember" xlink:to="arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc (2008-2014 Advisory Fee) [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember" xlink:label="arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember" xlink:to="arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember_lbl" xml:lang="en-US">Unified Housing Foundation, Inc (2018 Advisory Fee) [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncMember" xlink:to="arl_UnifiedHousingFoundationIncMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationIncMember_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc1Member" xlink:to="arl_UnifiedHousingFoundationInc1Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc1Member_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc2Member" xlink:to="arl_UnifiedHousingFoundationInc2Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationInc2Member_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnifiedHousingFoundationInc3Member" xlink:label="arl_UnifiedHousingFoundationInc3Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc3Member" xlink:to="arl_UnifiedHousingFoundationInc3Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc3Member_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc4Member" xlink:to="arl_UnifiedHousingFoundationInc4Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc4Member_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc5Member" xlink:to="arl_UnifiedHousingFoundationInc5Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc5Member_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc6Member" xlink:to="arl_UnifiedHousingFoundationInc6Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc6Member_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc7Member" xlink:to="arl_UnifiedHousingFoundationInc7Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc7Member_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc8Member" xlink:to="arl_UnifiedHousingFoundationInc8Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_UnifiedHousingFoundationInc8Member_2_lbl" xml:lang="en-US">Unified Housing Foundation, Inc [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_VariousRelatedPartyNotesMember" xlink:label="arl_VariousRelatedPartyNotesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VariousRelatedPartyNotesMember" xlink:to="arl_VariousRelatedPartyNotesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_VariousRelatedPartyNotesMember_lbl" xml:lang="en-US">Various Related Party Notes [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_VariousNonRelatedPartyNotesMember" xlink:label="arl_VariousNonRelatedPartyNotesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VariousNonRelatedPartyNotesMember" xlink:to="arl_VariousNonRelatedPartyNotesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_VariousNonRelatedPartyNotesMember_lbl" xml:lang="en-US">Various Non-Related Party Notes [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_Subsidiaries23Member" xlink:label="arl_Subsidiaries23Member" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_Subsidiaries23Member" xlink:to="arl_Subsidiaries23Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_Subsidiaries23Member_lbl" xml:lang="en-US">Transcontinental Realty Investors, Inc. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DevelopmentProjectsMember" xlink:label="arl_DevelopmentProjectsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DevelopmentProjectsMember" xlink:to="arl_DevelopmentProjectsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DevelopmentProjectsMember_lbl" xml:lang="en-US">Development Projects [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ClarkCountyNevadaMember" xlink:label="arl_ClarkCountyNevadaMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ClarkCountyNevadaMember" xlink:to="arl_ClarkCountyNevadaMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ClarkCountyNevadaMember_lbl" xml:lang="en-US">Clark County, Nevada[Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DominionTractFarmersBranchTXAdjustmentMember" xlink:label="arl_DominionTractFarmersBranchTXAdjustmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DominionTractFarmersBranchTXAdjustmentMember" xlink:to="arl_DominionTractFarmersBranchTXAdjustmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DominionTractFarmersBranchTXAdjustmentMember_lbl" xml:lang="en-US">Dominion Tract, Farmers Branch [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DominionTractFarmersBranchTXMember" xlink:label="arl_DominionTractFarmersBranchTXMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DominionTractFarmersBranchTXMember" xlink:to="arl_DominionTractFarmersBranchTXMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_DominionTractFarmersBranchTXMember_lbl" xml:lang="en-US">Dominion Tract, Farmers Branch [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="us-gaap_TypeOfArrangementAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementAxis" xlink:to="us-gaap_TypeOfArrangementAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xml:lang="en-US">Type of Arrangement and Non-arrangement Transactions [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_StockTransferAgreementMember" xlink:label="arl_StockTransferAgreementMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_StockTransferAgreementMember" xlink:to="arl_StockTransferAgreementMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_StockTransferAgreementMember_lbl" xml:lang="en-US">Stock Transfer Agreement [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealtyAdvisorsIncMember" xlink:label="arl_RealtyAdvisorsIncMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealtyAdvisorsIncMember" xlink:to="arl_RealtyAdvisorsIncMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealtyAdvisorsIncMember_lbl" xml:lang="en-US">Realty Advisors, Inc. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TranscontinentialRealtyInvestorsMember" xlink:label="arl_TranscontinentialRealtyInvestorsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TranscontinentialRealtyInvestorsMember" xlink:to="arl_TranscontinentialRealtyInvestorsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TranscontinentialRealtyInvestorsMember_lbl" xml:lang="en-US">Transcontinential Realty Investors [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LandImprovementsMember" xlink:label="us-gaap_LandImprovementsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandImprovementsMember" xlink:to="us-gaap_LandImprovementsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LandImprovementsMember_lbl" xml:lang="en-US">Land Improvements [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BuildingsAndImprovementsMember" xlink:label="arl_BuildingsAndImprovementsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BuildingsAndImprovementsMember" xlink:to="arl_BuildingsAndImprovementsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_BuildingsAndImprovementsMember_lbl" xml:lang="en-US">Buildings And Improvements [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FurnitureFixturesAndEquipmentMember" xlink:label="arl_FurnitureFixturesAndEquipmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FurnitureFixturesAndEquipmentMember" xlink:to="arl_FurnitureFixturesAndEquipmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_FurnitureFixturesAndEquipmentMember_lbl" xml:lang="en-US">Furniture, Fixtures And Equipment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SouthernPropertiesCapitalLtdMember" xlink:label="arl_SouthernPropertiesCapitalLtdMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SouthernPropertiesCapitalLtdMember" xlink:to="arl_SouthernPropertiesCapitalLtdMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SouthernPropertiesCapitalLtdMember_lbl" xml:lang="en-US">Southern Properties Capital Ltd. [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SeriesKConvertiblePreferredStockMember" xlink:label="arl_SeriesKConvertiblePreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SeriesKConvertiblePreferredStockMember" xlink:to="arl_SeriesKConvertiblePreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SeriesKConvertiblePreferredStockMember_lbl" xml:lang="en-US">Series K Convertible Preferred Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Season Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Reporting Status Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US">Assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateInvestmentsOther" xlink:label="us-gaap_RealEstateInvestmentsOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentsOther" xlink:to="us-gaap_RealEstateInvestmentsOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentsOther_lbl" xml:lang="en-US">Real estate, at cost</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateSubjectToSalesContractsAtCost" xlink:label="arl_RealEstateSubjectToSalesContractsAtCost" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateSubjectToSalesContractsAtCost" xlink:to="arl_RealEstateSubjectToSalesContractsAtCost_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateSubjectToSalesContractsAtCost_lbl" xml:lang="en-US">Real estate subject to sales contracts at cost</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLosses" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:to="us-gaap_FinancingReceivableAllowanceForCreditLosses_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLosses_lbl" xml:lang="en-US">Less allowance for estimated losses (including $13,099 and $14,269 in 2019 and 2018 from related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NotesReceivableNet" xlink:label="us-gaap_NotesReceivableNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableNet" xlink:to="us-gaap_NotesReceivableNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesReceivableNet_lbl" xml:lang="en-US">Total notes and interest receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashEquivalentsAtCarryingValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashEquivalentsAtCarryingValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:label="us-gaap_RestrictedCashAndCashEquivalents" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalents" xlink:to="us-gaap_RestrictedCashAndCashEquivalents_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalents_lbl" xml:lang="en-US">Restricted cash</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateInvestmentsJointVentures" xlink:label="us-gaap_RealEstateInvestmentsJointVentures" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentsJointVentures" xlink:to="us-gaap_RealEstateInvestmentsJointVentures_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentsJointVentures_lbl" xml:lang="en-US">Investment in VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_lbl" xml:lang="en-US">Investment in other unconsolidated investees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="us-gaap_DueFromRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="us-gaap_DueFromRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueFromRelatedParties_lbl" xml:lang="en-US">Receivable from related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherAssets" xlink:label="us-gaap_OtherAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssets" xlink:to="us-gaap_OtherAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US">Other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">Liabilities and Shareholders' Equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NotesPayable" xlink:label="us-gaap_NotesPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayable" xlink:to="us-gaap_NotesPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesPayable_lbl" xml:lang="en-US">Notes and interest payable</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BondAndBondInterestPayable" xlink:label="arl_BondAndBondInterestPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondAndBondInterestPayable" xlink:to="arl_BondAndBondInterestPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BondAndBondInterestPayable_lbl" xml:lang="en-US">Bond and interest payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredRevenue" xlink:label="us-gaap_DeferredRevenue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenue" xlink:to="us-gaap_DeferredRevenue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenue_lbl" xml:lang="en-US">Deferred revenue (including $24,762 in 2019 and $33,904 in 2018 to related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:label="us-gaap_AccountsPayableAndOtherAccruedLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:to="us-gaap_AccountsPayableAndOtherAccruedLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndOtherAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and other liabilities (including $11,817 in 2019 and $9,984 in 2018 to related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Shareholders' equity:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued 614 and outstanding 1,800,614 in 2019 and 2018 (liquidation preference $10 per share), including 1,800,000 shares held by ARL and its subsidiaries in 2019 and 2018.</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, $0.01 par value, 100,000,000 shares authorized; 16,412,861 shares issued and 15,997,076 outstanding as of 2019 and 2018 , including 140,000 shares held by TCI (consolidated) in 2019 and 2018.</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValue" xlink:to="us-gaap_TreasuryStockValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Treasury stock at cost; 415,785 shares in 2019 and 2018, and 140,000 shares held by TCI (consolidated) as of 2019 and 2018.</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Paid-in capital</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained earnings</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total American Realty Investors, Inc. shareholders' equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterest" xlink:to="us-gaap_MinorityInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Non-controlling interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total shareholders' equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and shareholders' equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableGross" xlink:to="us-gaap_NotesReceivableGross_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NotesReceivableGross_2_lbl" xml:lang="en-US">Notes and interest receivable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:to="us-gaap_FinancingReceivableAllowanceForCreditLosses_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLosses_2_lbl" xml:lang="en-US">Allowance for doubtful accounts</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenue" xlink:to="us-gaap_DeferredRevenue_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredRevenue_2_lbl" xml:lang="en-US">Deferred revenue</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:to="us-gaap_AccountsPayableAndOtherAccruedLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsPayableAndOtherAccruedLiabilities_2_lbl" xml:lang="en-US">Accounts payable and other liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Series A Preferred stock, par value (in dollars per share)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">Series A Preferred stock, authorized (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US">Series A Preferred stock, issued (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Series A Preferred stock, outstanding (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockLiquidationPreference" xlink:label="us-gaap_PreferredStockLiquidationPreference" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockLiquidationPreference" xlink:to="us-gaap_PreferredStockLiquidationPreference_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockLiquidationPreference_lbl" xml:lang="en-US">Series A Preferred stock, liquidation preference (in dollars per share)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value (in dollars per share)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, authorized (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, issued (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, outstanding (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="us-gaap_TreasuryStockShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Treasury stock (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenues:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Rental and other property revenues (including $841, $144 and $839 for the year ended 2019, 2018 and 2017, respectively, from related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">Expenses:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:label="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:to="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_lbl" xml:lang="en-US">Property operating expenses (including $991, $254 and $959 for the year ended 2019, 2018 and 2017, respectively, from related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US">General and administrative (including $4,429, $1,267and $3,225 for the year ended 2019, 2018 and 2017, respectively, from related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NetIncomeFeeToRelatedParty1" xlink:label="arl_NetIncomeFeeToRelatedParty1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NetIncomeFeeToRelatedParty1" xlink:to="arl_NetIncomeFeeToRelatedParty1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NetIncomeFeeToRelatedParty1_lbl" xml:lang="en-US">Net income fee to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AdvisoryFeeToRelatedParty" xlink:label="arl_AdvisoryFeeToRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AdvisoryFeeToRelatedParty" xlink:to="arl_AdvisoryFeeToRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AdvisoryFeeToRelatedParty_lbl" xml:lang="en-US">Advisory fee to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US">Total operating expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">Net operating (loss) income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US">Other income (expenses):</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Interest income (including $23,760, $5,406 and $16,298 for the year ended 2019, 2018 and 2017, respectively, from related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US">Other income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="us-gaap_InterestExpenseDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseDebt" xlink:to="us-gaap_InterestExpenseDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpenseDebt_lbl" xml:lang="en-US">Mortgage and loan interest (including $9,282, $2,240 and $6,695 for the year ended 2019, 2018 and 2017, respectively, from related parties)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LossOnSaleOfInvestments" xlink:label="us-gaap_LossOnSaleOfInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossOnSaleOfInvestments" xlink:to="us-gaap_LossOnSaleOfInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_LossOnSaleOfInvestments_lbl" xml:lang="en-US">Loss on the sale of investments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xml:lang="en-US">Foreign currency transaction gain (loss)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_lbl" xml:lang="en-US">Loss on extinguishment of debt</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_IncomeLossFromJointVenture" xlink:label="arl_IncomeLossFromJointVenture" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_IncomeLossFromJointVenture" xlink:to="arl_IncomeLossFromJointVenture_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_IncomeLossFromJointVenture_lbl" xml:lang="en-US">Equity (loss) earnings from VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Earnings from unconsolidated subsidiaries and investees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Total other (expenses)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xml:lang="en-US">(Loss) income before gain on land sales, non-controlling interest, and taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="us-gaap_GainLossOnDispositionOfAssets1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDispositionOfAssets1" xlink:to="us-gaap_GainLossOnDispositionOfAssets1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnDispositionOfAssets1_lbl" xml:lang="en-US">Gain on disposition of 50% interestt in VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:label="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:to="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_lbl" xml:lang="en-US">Gain on sale of income-producing properties</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_GainLossOnLandSales" xlink:label="arl_GainLossOnLandSales" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Net (loss) income applicable to common shares (in dollars per share)</link:label>
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsAttributableToParentAbstract" xlink:label="us-gaap_IncomeLossFromContinuingOperationsAttributableToParentAbstract" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Dividends" xlink:to="us-gaap_Dividends_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_Dividends_lbl" xml:lang="en-US">Series D preferred dividend</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary" xlink:label="arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary" xlink:to="arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary_lbl" xml:lang="en-US">Acquisition of Series A preferred stock by consolidated subsidiary</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DividendsPreferredStockCash" xlink:label="us-gaap_DividendsPreferredStockCash" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPreferredStockCash" xlink:to="us-gaap_DividendsPreferredStockCash_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DividendsPreferredStockCash_lbl" xml:lang="en-US">Series A preferred stock cash dividend ($1.00 per share)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3_lbl" xml:lang="en-US">Balance at end</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesOutstanding_2_lbl" xml:lang="en-US">Balance at end (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockDividendsPerShareDeclared" xlink:label="us-gaap_PreferredStockDividendsPerShareDeclared" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendsPerShareDeclared" xlink:to="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendsPerShareDeclared_lbl" xml:lang="en-US">Series A preferred stock dividend, per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flow From Operating Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net (loss) income applicable to common shares to net cash used in operating activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_GainOnFormationOfVaa" xlink:label="arl_GainOnFormationOfVaa" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GainOnFormationOfVaa" xlink:to="arl_GainOnFormationOfVaa_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_GainOnFormationOfVaa_lbl" xml:lang="en-US">Gain on formation of VAA</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_2_lbl" xml:lang="en-US">Foreign currency transaction loss (gain)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_2_lbl" xml:lang="en-US">Loss on debt extinguishment</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GainLossOnLandSales" xlink:to="arl_GainLossOnLandSales_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_GainLossOnLandSales_2_lbl" xml:lang="en-US">Gain on sale of land</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:to="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_2_lbl" xml:lang="en-US">Loss (gain) on sale of income-producing properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="us-gaap_ImpairmentOfRealEstate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfRealEstate" xlink:to="us-gaap_ImpairmentOfRealEstate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ImpairmentOfRealEstate_lbl" xml:lang="en-US">Provision on impairment of notes receivable and real estate assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AmortizationOfDeferredCharges" xlink:label="us-gaap_AmortizationOfDeferredCharges" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfDeferredCharges" xlink:to="us-gaap_AmortizationOfDeferredCharges_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfDeferredCharges_lbl" xml:lang="en-US">Amortization of deferred borrowing costs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCosts" xlink:to="us-gaap_AmortizationOfFinancingCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US">Amortization of bond issuance costs</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_IncomeLossFromJointVenture" xlink:to="arl_IncomeLossFromJointVenture_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_IncomeLossFromJointVenture_2_lbl" xml:lang="en-US">Equity earnings from VAA</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_2_lbl" xml:lang="en-US">(Earnings) from unconsolidated subsidiaries and investees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingAssetsAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xml:lang="en-US">(Increase) decrease in assets:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:to="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_lbl" xml:lang="en-US">Accrued interest receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Other assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xml:lang="en-US">Prepaid expense</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInLeasingReceivables" xlink:label="us-gaap_IncreaseDecreaseInLeasingReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInLeasingReceivables" xlink:to="us-gaap_IncreaseDecreaseInLeasingReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInLeasingReceivables_lbl" xml:lang="en-US">Rent receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties_lbl" xml:lang="en-US">Related party receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xml:lang="en-US">Increase (decrease) in liabilities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:to="us-gaap_IncreaseDecreaseInInterestPayableNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet_lbl" xml:lang="en-US">Accrued interest payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_lbl" xml:lang="en-US">Other liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash (used in) operating activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flow From Investing Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ProceedsFromDispositionOf50InterestInVaa" xlink:label="arl_ProceedsFromDispositionOf50InterestInVaa" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProceedsFromDispositionOf50InterestInVaa" xlink:to="arl_ProceedsFromDispositionOf50InterestInVaa_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ProceedsFromDispositionOf50InterestInVaa_lbl" xml:lang="en-US">Proceeds from disposition of 50% interest in VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:label="us-gaap_ProceedsFromCollectionOfNotesReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:to="us-gaap_ProceedsFromCollectionOfNotesReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromCollectionOfNotesReceivable_lbl" xml:lang="en-US">Proceeds from notes receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireNotesReceivable" xlink:label="us-gaap_PaymentsToAcquireNotesReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireNotesReceivable" xlink:to="us-gaap_PaymentsToAcquireNotesReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireNotesReceivable_lbl" xml:lang="en-US">Origination of notes receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireLand" xlink:label="us-gaap_PaymentsToAcquireLand" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireLand" xlink:to="us-gaap_PaymentsToAcquireLand_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireLand_lbl" xml:lang="en-US">Acquisition of land held for development</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:label="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:to="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_lbl" xml:lang="en-US">Acquisition of income producing properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:label="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:to="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_lbl" xml:lang="en-US">Proceeds from sale of income producing properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfLandHeldForUse" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldForUse" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfLandHeldForUse" xlink:to="us-gaap_ProceedsFromSaleOfLandHeldForUse_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldForUse_lbl" xml:lang="en-US">Proceeds from sale of land</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:label="us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital" xlink:to="us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_lbl" xml:lang="en-US">Distribution from equity investee</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions_lbl" xml:lang="en-US">Distributions to equity partner</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InvestmentInUnconsolidatedRealEstateEntities" xlink:label="arl_InvestmentInUnconsolidatedRealEstateEntities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InvestmentInUnconsolidatedRealEstateEntities" xlink:to="arl_InvestmentInUnconsolidatedRealEstateEntities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_InvestmentInUnconsolidatedRealEstateEntities_lbl" xml:lang="en-US">Investment in unconsolidated real estate entities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsToDevelopRealEstateAssets" xlink:label="us-gaap_PaymentsToDevelopRealEstateAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToDevelopRealEstateAssets" xlink:to="us-gaap_PaymentsToDevelopRealEstateAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToDevelopRealEstateAssets_lbl" xml:lang="en-US">Improvement of income producing properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForConstructionInProcess" xlink:label="us-gaap_PaymentsForConstructionInProcess" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForConstructionInProcess" xlink:to="us-gaap_PaymentsForConstructionInProcess_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForConstructionInProcess_lbl" xml:lang="en-US">Construction and development of new properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash (used in) provided by investing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flow From Financing Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt" xlink:to="us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt_lbl" xml:lang="en-US">Proceeds from bonds</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PaymentsForBonds" xlink:label="arl_PaymentsForBonds" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PaymentsForBonds" xlink:to="arl_PaymentsForBonds_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_PaymentsForBonds_lbl" xml:lang="en-US">Bond payments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="us-gaap_PaymentsOfDebtIssuanceCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDebtIssuanceCosts" xlink:to="us-gaap_PaymentsOfDebtIssuanceCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDebtIssuanceCosts_lbl" xml:lang="en-US">Bond issuance costs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromNotesPayable" xlink:label="us-gaap_ProceedsFromNotesPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromNotesPayable" xlink:to="us-gaap_ProceedsFromNotesPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromNotesPayable_lbl" xml:lang="en-US">Proceeds from notes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RecurringPaymentOfPrincipalOnNotesPayable" xlink:label="arl_RecurringPaymentOfPrincipalOnNotesPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RecurringPaymentOfPrincipalOnNotesPayable" xlink:to="arl_RecurringPaymentOfPrincipalOnNotesPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_RecurringPaymentOfPrincipalOnNotesPayable_lbl" xml:lang="en-US">Recurring payment of principal on notes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RepaymentsOfCommercialNotePayable" xlink:label="arl_RepaymentsOfCommercialNotePayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RepaymentsOfCommercialNotePayable" xlink:to="arl_RepaymentsOfCommercialNotePayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_RepaymentsOfCommercialNotePayable_lbl" xml:lang="en-US">Payment on commercial note payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsOfDebtExtinguishmentCosts" xlink:label="us-gaap_PaymentsOfDebtExtinguishmentCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDebtExtinguishmentCosts" xlink:to="us-gaap_PaymentsOfDebtExtinguishmentCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDebtExtinguishmentCosts_lbl" xml:lang="en-US">Debt extinguishment costs</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary" xlink:label="arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary" xlink:to="arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary_lbl" xml:lang="en-US">Acquisition of Series A preferred stock by consolidated subsidiary</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsOfLoanCosts" xlink:label="us-gaap_PaymentsOfLoanCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfLoanCosts" xlink:to="us-gaap_PaymentsOfLoanCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfLoanCosts_lbl" xml:lang="en-US">Deferred financing costs</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PreferredStockDividendsSeries" xlink:label="arl_PreferredStockDividendsSeries" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PreferredStockDividendsSeries" xlink:to="arl_PreferredStockDividendsSeries_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_PreferredStockDividendsSeries_lbl" xml:lang="en-US">Preferred stock dividends - Series A</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash provided by financing activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_lbl" xml:lang="en-US">Net (decrease) increase in cash and cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents, beginning of period</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_2_lbl" xml:lang="en-US">Cash and cash equivalents, end of period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental disclosures of cash flow information:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="us-gaap_InterestPaidNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="us-gaap_InterestPaidNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaidNet_lbl" xml:lang="en-US">Cash paid for interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:label="us-gaap_NoncashInvestingAndFinancingItemsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:to="us-gaap_NoncashInvestingAndFinancingItemsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashInvestingAndFinancingItemsAbstract_lbl" xml:lang="en-US">Schedule of noncash investing and financing activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_lbl" xml:lang="en-US">Land received in exchanged for note receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NotesIssued1" xlink:label="us-gaap_NotesIssued1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesIssued1" xlink:to="us-gaap_NotesIssued1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesIssued1_lbl" xml:lang="en-US">Notes receivable received from sale of income-producing properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_TransferOfOtherRealEstate" xlink:label="us-gaap_TransferOfOtherRealEstate" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:label>
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      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InvestmentInVaaDisclosureTextBlock" xlink:label="arl_InvestmentInVaaDisclosureTextBlock" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowSupplementalDisclosuresTextBlock_lbl" xml:lang="en-US">SUPPLEMENTAL CASH FLOW INFORMATION</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReceivablesAbstract" xlink:label="us-gaap_ReceivablesAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablesTextBlock_lbl" xml:lang="en-US">NOTES AND INTEREST RECEIVABLE</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentsDisclosureTextBlock_lbl" xml:lang="en-US">INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US">NOTES AND INTEREST PAYABLE</link:label>
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      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BondsAndBondsInterestPayableDisclosureTextBlock" xlink:label="arl_BondsAndBondsInterestPayableDisclosureTextBlock" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesOfLessorDisclosureTextBlock_lbl" xml:lang="en-US">FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="us-gaap_SegmentReportingAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingAbstract" xlink:to="us-gaap_SegmentReportingAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingAbstract_lbl" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US">OPERATING SEGMENTS</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="us-gaap_QuarterlyFinancialInformationDisclosureAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_QuarterlyFinancialInformationDisclosureAbstract_lbl" xml:lang="en-US">Quarterly Financial Information Disclosure [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_QuarterlyFinancialInformationTextBlock" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_QuarterlyFinancialInformationTextBlock" xlink:to="us-gaap_QuarterlyFinancialInformationTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock_lbl" xml:lang="en-US">QUARTERLY RESULTS OF OPERATIONS</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">COMMITMENTS, CONTINGENCIES, AND LIQUIDITY</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US">EARNINGS PER SHARE</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">SUBSEQUENT EVENTS</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ScheduleIiiRealEstateAndAccumulatedDepreciationAbstract" xlink:label="arl_ScheduleIiiRealEstateAndAccumulatedDepreciationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleIiiRealEstateAndAccumulatedDepreciationAbstract" xlink:to="arl_ScheduleIiiRealEstateAndAccumulatedDepreciationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ScheduleIiiRealEstateAndAccumulatedDepreciationAbstract_lbl" xml:lang="en-US">Schedule Iii Real Estate And Accumulated Depreciation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:label="srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:to="srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_lbl" xml:lang="en-US">REAL ESTATE AND ACCUMULATED DEPRECIATION</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ScheduleIvMortgageLoansReceivableOnRealEstateAbstract" xlink:label="arl_ScheduleIvMortgageLoansReceivableOnRealEstateAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleIvMortgageLoansReceivableOnRealEstateAbstract" xlink:to="arl_ScheduleIvMortgageLoansReceivableOnRealEstateAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ScheduleIvMortgageLoansReceivableOnRealEstateAbstract_lbl" xml:lang="en-US">Schedule Iv Mortgage Loans Receivable On Real Estate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:label="srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:to="srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_lbl" xml:lang="en-US">MORTGAGE LOANS RECEIVABLE ON REAL ESTATE</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Basis of presentation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstatePolicyTextBlock" xlink:label="us-gaap_RealEstatePolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstatePolicyTextBlock" xlink:to="us-gaap_RealEstatePolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstatePolicyTextBlock_lbl" xml:lang="en-US">Real estate, depreciation, and impairment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:to="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_lbl" xml:lang="en-US">Real estate held for sale</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CapitalizationOfInternalCostsPolicy" xlink:label="us-gaap_CapitalizationOfInternalCostsPolicy" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizationOfInternalCostsPolicy" xlink:to="us-gaap_CapitalizationOfInternalCostsPolicy_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalizationOfInternalCostsPolicy_lbl" xml:lang="en-US">Cost capitalization</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US">Fair value measurement</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RelatedPartiesPolicyTextBlock" xlink:label="arl_RelatedPartiesPolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartiesPolicyTextBlock" xlink:to="arl_RelatedPartiesPolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RelatedPartiesPolicyTextBlock_lbl" xml:lang="en-US">Related parties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Recognition of revenue</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xml:lang="en-US">Foreign currency translation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableNonperformingLoanAndLeasePolicy" xlink:label="us-gaap_LoansAndLeasesReceivableNonperformingLoanAndLeasePolicy" />
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      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InterestRecognitionOnNotesReceivablePolicyTextBlock" xlink:label="arl_InterestRecognitionOnNotesReceivablePolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestRecognitionOnNotesReceivablePolicyTextBlock" xlink:to="arl_InterestRecognitionOnNotesReceivablePolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_InterestRecognitionOnNotesReceivablePolicyTextBlock_lbl" xml:lang="en-US">Interest recognition on notes receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy" xlink:label="us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy" xlink:to="us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy_lbl" xml:lang="en-US">Allowance for estimated losses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_lbl" xml:lang="en-US">Restricted cash</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskCreditRisk" xlink:to="us-gaap_ConcentrationRiskCreditRisk_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskCreditRisk_lbl" xml:lang="en-US">Concentration of credit risk</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Earnings per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US">Recent accounting pronouncements</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EquityMethodInvestmentsTextBlock" xlink:label="us-gaap_EquityMethodInvestmentsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentsTextBlock" xlink:to="us-gaap_EquityMethodInvestmentsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentsTextBlock_lbl" xml:lang="en-US">Schedule of the financial position and results of operations of VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock" xlink:label="arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock" xlink:to="arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock_lbl" xml:lang="en-US">Schedule of the location of properties owned by VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock" xlink:label="arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock" xlink:to="arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock_lbl" xml:lang="en-US">Schedule of apartment projects in development</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateInvestmentFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_RealEstateInvestmentFinancialStatementsDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_RealEstateInvestmentFinancialStatementsDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US">Schedule of real estate owned</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US">Schedule of estimated useful lives of the assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock" xlink:label="us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock" xlink:to="us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_lbl" xml:lang="en-US">Schedule of reconciliation of cash and cash equivalents and restricted cash</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_lbl" xml:lang="en-US">Schedule of notes receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock" xlink:label="arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock" xlink:to="arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock_lbl" xml:lang="en-US">Schedule of financial position and results of operations from our investees</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfDebtTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl" xml:lang="en-US">Schedule of notes and interest payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:label="srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:to="srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_lbl" xml:lang="en-US">Schedule of the principal payments on the notes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xml:lang="en-US">Schedule of bonds and interest payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_lbl" xml:lang="en-US">Schedule of aggregate maturity of the bonds</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl" xml:lang="en-US">Schedule of description of the related party transactions and fees</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ScheduleOfRelatedPartyTransactions1TableTextBlock" xlink:label="arl_ScheduleOfRelatedPartyTransactions1TableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfRelatedPartyTransactions1TableTextBlock" xlink:to="arl_ScheduleOfRelatedPartyTransactions1TableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ScheduleOfRelatedPartyTransactions1TableTextBlock_lbl" xml:lang="en-US">Schedule of net receivable from related parties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:to="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl" xml:lang="en-US">Schedule of income tax expense benefit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:to="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl" xml:lang="en-US">Schedule of reconciliation effective tax rate on income from continuing operations and the statutory rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of components of net deferred tax assets or liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_lbl" xml:lang="en-US">Schedule of minimum future rents under non-cancelable operating leases</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US">Schedule of operating segment, including segment assets and expenditures</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock" xlink:label="us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock" xlink:to="us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock_lbl" xml:lang="en-US">Schedule of reconciliaton of segment information to consolidated statements of operations</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:label="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:to="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_lbl" xml:lang="en-US">Schedule of reconciliaton segment information to consolidated balance sheets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:to="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xml:lang="en-US">Schedule of quarterly results of operations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="srt_RangeAxis_2_lbl" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_OfficeBuildingMember" xlink:label="srt_OfficeBuildingMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OfficeBuildingMember" xlink:to="srt_OfficeBuildingMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OfficeBuildingMember_lbl" xml:lang="en-US">Office Buildings [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RetailSiteMember" xlink:label="srt_RetailSiteMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RetailSiteMember" xlink:to="srt_RetailSiteMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RetailSiteMember_lbl" xml:lang="en-US">Retail Properties [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US">Percentage of ownership</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent_lbl" xml:lang="en-US">Ownership interest</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_VotingInterestInJointVenture" xlink:label="arl_VotingInterestInJointVenture" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VotingInterestInJointVenture" xlink:to="arl_VotingInterestInJointVenture_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_VotingInterestInJointVenture_lbl" xml:lang="en-US">Voting interest in joint venture</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ProfitParticipationRightsPercentage" xlink:label="arl_ProfitParticipationRightsPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProfitParticipationRightsPercentage" xlink:to="arl_ProfitParticipationRightsPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ProfitParticipationRightsPercentage_lbl" xml:lang="en-US">Profit participation rights percentage</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="us-gaap_NumberOfRealEstateProperties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfRealEstateProperties" xlink:to="us-gaap_NumberOfRealEstateProperties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfRealEstateProperties_lbl" xml:lang="en-US">Number of income-producing properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationConsiderationTransferred1" xlink:to="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_lbl" xml:lang="en-US">Cash consideration</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NetRentableArea" xlink:label="us-gaap_NetRentableArea" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetRentableArea" xlink:to="us-gaap_NetRentableArea_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetRentableArea_lbl" xml:lang="en-US">Rentable square feet</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NumberOfUnitsInRealEstateProperty" xlink:label="us-gaap_NumberOfUnitsInRealEstateProperty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfUnitsInRealEstateProperty" xlink:to="us-gaap_NumberOfUnitsInRealEstateProperty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfUnitsInRealEstateProperty_lbl" xml:lang="en-US">Number of apartment units</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AreaOfLand" xlink:label="us-gaap_AreaOfLand" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfLand" xlink:to="us-gaap_AreaOfLand_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfLand_lbl" xml:lang="en-US">Acres of land</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ProjectsInDevelopment" xlink:label="arl_ProjectsInDevelopment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProjectsInDevelopment" xlink:to="arl_ProjectsInDevelopment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ProjectsInDevelopment_lbl" xml:lang="en-US">Projects in development</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US">Useful life of fixed assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="us-gaap_BalanceSheetRelatedDisclosuresAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:to="us-gaap_BalanceSheetRelatedDisclosuresAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BalanceSheetRelatedDisclosuresAbstract_lbl" xml:lang="en-US">Balance Sheet</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyNet" xlink:to="us-gaap_RealEstateInvestmentPropertyNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_2_lbl" xml:lang="en-US">Net real estate assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="us-gaap_DebtLongtermAndShorttermCombinedAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount_lbl" xml:lang="en-US">Debt, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherLiabilities" xlink:label="us-gaap_OtherLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilities" xlink:to="us-gaap_OtherLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherLiabilities_lbl" xml:lang="en-US">Other liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockholdersEquity_2_lbl" xml:lang="en-US">Total equity</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ResultsOfOperationsAbstract" xlink:label="arl_ResultsOfOperationsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ResultsOfOperationsAbstract" xlink:to="arl_ResultsOfOperationsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ResultsOfOperationsAbstract_lbl" xml:lang="en-US">Results of Operations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Revenues_3_lbl" xml:lang="en-US">Total revenue</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OperatingExpenses_2_lbl" xml:lang="en-US">Total property, operating, and maintenance expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DepreciationAndAmortization_2_lbl" xml:lang="en-US">Depreciation and Amortization</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_EquityMethodInvestmentTotalOtherExpense" xlink:label="arl_EquityMethodInvestmentTotalOtherExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInvestmentTotalOtherExpense" xlink:to="arl_EquityMethodInvestmentTotalOtherExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_EquityMethodInvestmentTotalOtherExpense_lbl" xml:lang="en-US">Total other expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_3_lbl" xml:lang="en-US">Net loss</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AdjustmentsToReconcileToEarningsFromVAAAbstract" xlink:label="arl_AdjustmentsToReconcileToEarningsFromVAAAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AdjustmentsToReconcileToEarningsFromVAAAbstract" xlink:to="arl_AdjustmentsToReconcileToEarningsFromVAAAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AdjustmentsToReconcileToEarningsFromVAAAbstract_lbl" xml:lang="en-US">Adjustments to reconcile to income (loss) from VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_EquityMethodInterestExpenseOnMezzanineLoan" xlink:label="arl_EquityMethodInterestExpenseOnMezzanineLoan" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInterestExpenseOnMezzanineLoan" xlink:to="arl_EquityMethodInterestExpenseOnMezzanineLoan_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_EquityMethodInterestExpenseOnMezzanineLoan_lbl" xml:lang="en-US">Interest expense on mezzanine loan</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_EquitymethodLeaseIntangiblesAmortizationExpense" xlink:label="arl_EquitymethodLeaseIntangiblesAmortizationExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquitymethodLeaseIntangiblesAmortizationExpense" xlink:to="arl_EquitymethodLeaseIntangiblesAmortizationExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_EquitymethodLeaseIntangiblesAmortizationExpense_lbl" xml:lang="en-US">In-place lease intangibles amortization expense</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_EquityMethodDepreciationBasisDifferences" xlink:label="arl_EquityMethodDepreciationBasisDifferences" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodDepreciationBasisDifferences" xlink:to="arl_EquityMethodDepreciationBasisDifferences_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_EquityMethodDepreciationBasisDifferences_lbl" xml:lang="en-US">Depreciation basis differences</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_EquityMethodAdjustedNetIncome" xlink:label="arl_EquityMethodAdjustedNetIncome" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodAdjustedNetIncome" xlink:to="arl_EquityMethodAdjustedNetIncome_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="arl_EquityMethodAdjustedNetIncome_lbl" xml:lang="en-US">Net loss</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_2_lbl" xml:lang="en-US">Percentage ownership in VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_EarningsFromJointVenture" xlink:label="arl_EarningsFromJointVenture" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EarningsFromJointVenture" xlink:to="arl_EarningsFromJointVenture_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_EarningsFromJointVenture_lbl" xml:lang="en-US">Loss from VAA</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfRealEstateProperties" xlink:to="us-gaap_NumberOfRealEstateProperties_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NumberOfRealEstateProperties_2_lbl" xml:lang="en-US">Number of properties</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfUnitsInRealEstateProperty" xlink:to="us-gaap_NumberOfUnitsInRealEstateProperty_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NumberOfUnitsInRealEstateProperty_2_lbl" xml:lang="en-US">Total Apartment Units</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DevelopmentInProcess" xlink:label="us-gaap_DevelopmentInProcess" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DevelopmentInProcess" xlink:to="us-gaap_DevelopmentInProcess_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DevelopmentInProcess_lbl" xml:lang="en-US">Costs to Date</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TotalProjectedCosts" xlink:label="arl_TotalProjectedCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TotalProjectedCosts" xlink:to="arl_TotalProjectedCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TotalProjectedCosts_lbl" xml:lang="en-US">Total Projected Costs</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NumberOfPortfolioContributed" xlink:label="arl_NumberOfPortfolioContributed" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfPortfolioContributed" xlink:to="arl_NumberOfPortfolioContributed_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NumberOfPortfolioContributed_lbl" xml:lang="en-US">Number of portfolio contributed</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses" xlink:label="us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses" xlink:to="us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses_lbl" xml:lang="en-US">Recognized gain</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InterestHeld" xlink:label="arl_InterestHeld" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestHeld" xlink:to="arl_InterestHeld_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_InterestHeld_lbl" xml:lang="en-US">Interest held</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_CashPaymentUponClosing" xlink:label="arl_CashPaymentUponClosing" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CashPaymentUponClosing" xlink:to="arl_CashPaymentUponClosing_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_CashPaymentUponClosing_lbl" xml:lang="en-US">Cash payment upon closing</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromRelatedPartyDebt" xlink:label="us-gaap_ProceedsFromRelatedPartyDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRelatedPartyDebt" xlink:to="us-gaap_ProceedsFromRelatedPartyDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRelatedPartyDebt_lbl" xml:lang="en-US">Cash distribution from VAA</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:label="us-gaap_InvestmentBuildingAndBuildingImprovements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:to="us-gaap_InvestmentBuildingAndBuildingImprovements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentBuildingAndBuildingImprovements_lbl" xml:lang="en-US">Apartments</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DevelopmentInProcess" xlink:to="us-gaap_DevelopmentInProcess_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DevelopmentInProcess_2_lbl" xml:lang="en-US">Apartments under construction</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RentalProperties" xlink:label="us-gaap_RentalProperties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RentalProperties" xlink:to="us-gaap_RentalProperties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RentalProperties_lbl" xml:lang="en-US">Commercial properties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LandAvailableForDevelopment" xlink:label="us-gaap_LandAvailableForDevelopment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandAvailableForDevelopment" xlink:to="us-gaap_LandAvailableForDevelopment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LandAvailableForDevelopment_lbl" xml:lang="en-US">Land held for development</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateSubjectToSalesContractsAtCost" xlink:to="arl_RealEstateSubjectToSalesContractsAtCost_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_RealEstateSubjectToSalesContractsAtCost_2_lbl" xml:lang="en-US">Real estate subject to sales contract</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyAtCost" xlink:to="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost_lbl" xml:lang="en-US">Total real estate, at cost, less impairment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="us-gaap_RealEstateAccumulatedDepreciation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciation" xlink:to="us-gaap_RealEstateAccumulatedDepreciation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_lbl" xml:lang="en-US">Less accumulated deprecation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateInvestments" xlink:label="us-gaap_RealEstateInvestments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestments" xlink:to="us-gaap_RealEstateInvestments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RealEstateInvestments_lbl" xml:lang="en-US">Total real estate, net of depreciation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:to="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xml:lang="en-US">Estimated useful lives</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_2_lbl" xml:lang="en-US">Estimated useful lives</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AreaOfLandSold" xlink:label="arl_AreaOfLandSold" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AreaOfLandSold" xlink:to="arl_AreaOfLandSold_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AreaOfLandSold_lbl" xml:lang="en-US">Area of land sold</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfLandHeldforinvestment" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldforinvestment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfLandHeldforinvestment" xlink:to="us-gaap_ProceedsFromSaleOfLandHeldforinvestment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromSaleOfLandHeldforinvestment_lbl" xml:lang="en-US">Proceeds from sale of land</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GainLossOnLandSales" xlink:to="arl_GainLossOnLandSales_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_GainLossOnLandSales_3_lbl" xml:lang="en-US">Gain on sale of land</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfProductiveAssets" xlink:label="us-gaap_ProceedsFromSaleOfProductiveAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfProductiveAssets" xlink:to="us-gaap_ProceedsFromSaleOfProductiveAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfProductiveAssets_lbl" xml:lang="en-US">Proceeds from sale of property</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GainLossOnSaleOfProperties" xlink:label="us-gaap_GainLossOnSaleOfProperties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfProperties" xlink:to="us-gaap_GainLossOnSaleOfProperties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfProperties_lbl" xml:lang="en-US">Gain (loss) on sale of property</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleAndCollectionOfReceivables" xlink:label="us-gaap_ProceedsFromSaleAndCollectionOfReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleAndCollectionOfReceivables" xlink:to="us-gaap_ProceedsFromSaleAndCollectionOfReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleAndCollectionOfReceivables_lbl" xml:lang="en-US">Proceeds from sale of receivables</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AreaOfLandPurchased" xlink:label="arl_AreaOfLandPurchased" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AreaOfLandPurchased" xlink:to="arl_AreaOfLandPurchased_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AreaOfLandPurchased_lbl" xml:lang="en-US">Area of land purchased</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:to="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_2_lbl" xml:lang="en-US">Purchase price of properties</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PaymentsToConstructionAndDevelopRealEstateAssets" xlink:label="arl_PaymentsToConstructionAndDevelopRealEstateAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PaymentsToConstructionAndDevelopRealEstateAssets" xlink:to="arl_PaymentsToConstructionAndDevelopRealEstateAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PaymentsToConstructionAndDevelopRealEstateAssets_lbl" xml:lang="en-US">Payment for construction or predevelopment of various apartment complexes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateInventoryCapitalizedInterestCosts" xlink:label="us-gaap_RealEstateInventoryCapitalizedInterestCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInventoryCapitalizedInterestCosts" xlink:to="us-gaap_RealEstateInventoryCapitalizedInterestCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInventoryCapitalizedInterestCosts_lbl" xml:lang="en-US">Capitalized interest costs</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireLand" xlink:to="us-gaap_PaymentsToAcquireLand_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireLand_2_lbl" xml:lang="en-US">Payments to acquire land</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US">Debt instrument principal amount</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="us-gaap_DebtInstrumentTerm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTerm_lbl" xml:lang="en-US">Maturity term</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RepaymentsOfSecuredDebt" xlink:label="us-gaap_RepaymentsOfSecuredDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfSecuredDebt" xlink:to="us-gaap_RepaymentsOfSecuredDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfSecuredDebt_lbl" xml:lang="en-US">Repayment of commercial building mortgage</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_3_lbl" xml:lang="en-US">Total cash, cash equivalents and restricted cash</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoanOnRealEstateFinalMaturityDate" xlink:label="srt_MortgageLoanOnRealEstateFinalMaturityDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoanOnRealEstateFinalMaturityDate" xlink:to="srt_MortgageLoanOnRealEstateFinalMaturityDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoanOnRealEstateFinalMaturityDate_lbl" xml:lang="en-US">Maturity Date</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageLoanOnRealEstateFinalMaturityDateDescription" xlink:label="arl_MortgageLoanOnRealEstateFinalMaturityDateDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoanOnRealEstateFinalMaturityDateDescription" xlink:to="arl_MortgageLoanOnRealEstateFinalMaturityDateDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MortgageLoanOnRealEstateFinalMaturityDateDescription_lbl" xml:lang="en-US">Description of maturity date</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DescriptionOfProperty" xlink:label="arl_DescriptionOfProperty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DescriptionOfProperty" xlink:to="arl_DescriptionOfProperty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DescriptionOfProperty_lbl" xml:lang="en-US">Description of property</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstateInterestRate" xlink:label="srt_MortgageLoansOnRealEstateInterestRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateInterestRate" xlink:to="srt_MortgageLoansOnRealEstateInterestRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateInterestRate_lbl" xml:lang="en-US">Interest Rate</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest" xlink:label="arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest" xlink:to="arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest_lbl" xml:lang="en-US">Description of Interest Rate</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings" xlink:label="arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings" xlink:to="arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings_lbl" xml:lang="en-US">Description of Security</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestReceivable" xlink:label="us-gaap_InterestReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestReceivable" xlink:to="us-gaap_InterestReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestReceivable_lbl" xml:lang="en-US">Accrued interest</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:to="us-gaap_FinancingReceivableAllowanceForCreditLosses_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLosses_3_lbl" xml:lang="en-US">Allowance for estimated losses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NotesReceivableRelatedParties" xlink:label="us-gaap_NotesReceivableRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableRelatedParties" xlink:to="us-gaap_NotesReceivableRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesReceivableRelatedParties_lbl" xml:lang="en-US">Notes receivable due from related parties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeRelatedParty" xlink:label="us-gaap_InterestIncomeRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeRelatedParty" xlink:to="us-gaap_InterestIncomeRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestIncomeRelatedParty_lbl" xml:lang="en-US">Interest income from these related party notes receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccountsReceivableRelatedParties" xlink:label="us-gaap_AccountsReceivableRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableRelatedParties" xlink:to="us-gaap_AccountsReceivableRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableRelatedParties_lbl" xml:lang="en-US">Accrued interest receivables from related parties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivables" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivables" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInNotesReceivables" xlink:to="us-gaap_IncreaseDecreaseInNotesReceivables_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivables_lbl" xml:lang="en-US">Notes receivables increased</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:to="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_lbl" xml:lang="en-US">Write-off of debt</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyNet" xlink:to="us-gaap_RealEstateInvestmentPropertyNet_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_3_lbl" xml:lang="en-US">Real estate, net of accumulated depreciation</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableNet" xlink:to="us-gaap_NotesReceivableNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NotesReceivableNet_2_lbl" xml:lang="en-US">Notes receivable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayable" xlink:to="us-gaap_NotesPayable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_NotesPayable_2_lbl" xml:lang="en-US">Notes payable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_StockholdersEquity_3_lbl" xml:lang="en-US">Shareholders' equity/partners capital</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_DepreciationAndAmortization_3_lbl" xml:lang="en-US">Depreciation</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_OperatingExpenses_3_lbl" xml:lang="en-US">Operating expenses</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperations" xlink:to="us-gaap_IncomeLossFromContinuingOperations_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperations_2_lbl" xml:lang="en-US">Income (loss) from continuing operations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_2_lbl" xml:lang="en-US">Net income (loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_4_lbl" xml:lang="en-US">Company's 20% proportionate share of earnings</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="us-gaap_MinorityInterestOwnershipPercentageByParent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent_2_lbl" xml:lang="en-US">Investee's ownership percentage</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NumberOfRestaurants" xlink:label="us-gaap_NumberOfRestaurants" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfRestaurants" xlink:to="us-gaap_NumberOfRestaurants_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfRestaurants_lbl" xml:lang="en-US">Number of restaurants</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermNotesPayable" xlink:label="us-gaap_LongTermNotesPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermNotesPayable" xlink:to="us-gaap_LongTermNotesPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermNotesPayable_lbl" xml:lang="en-US">Total notes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="us-gaap_DeferredFinanceCostsNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNet" xlink:to="us-gaap_DeferredFinanceCostsNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DeferredFinanceCostsNet_lbl" xml:lang="en-US">Less: unamortized deferred borrowing costs</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCarryingAmount" xlink:to="us-gaap_DebtInstrumentCarryingAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DebtInstrumentCarryingAmount_lbl" xml:lang="en-US">Total outstanding notes payable, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestPayableCurrentAndNoncurrent" xlink:label="us-gaap_InterestPayableCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="us-gaap_InterestPayableCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">Accrued Interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Total notes payable, net and accrued interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xml:lang="en-US">2020</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xml:lang="en-US">2021</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xml:lang="en-US">2022</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xml:lang="en-US">2023</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xml:lang="en-US">2024</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_lbl" xml:lang="en-US">Thereafter</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermNotesPayable" xlink:to="us-gaap_LongTermNotesPayable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermNotesPayable_2_lbl" xml:lang="en-US">Total</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NumberOfLoansRefinancedOrModified" xlink:label="arl_NumberOfLoansRefinancedOrModified" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfLoansRefinancedOrModified" xlink:to="arl_NumberOfLoansRefinancedOrModified_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NumberOfLoansRefinancedOrModified_lbl" xml:lang="en-US">Loans refinanced or modified</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromConstructionLoansPayable" xlink:label="us-gaap_ProceedsFromConstructionLoansPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromConstructionLoansPayable" xlink:to="us-gaap_ProceedsFromConstructionLoansPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromConstructionLoansPayable_lbl" xml:lang="en-US">Proceeds from construction loans</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="us-gaap_InterestPayableCurrentAndNoncurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestPayableCurrentAndNoncurrent_2_lbl" xml:lang="en-US">Interest payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentMaturityDateDescription" xlink:label="us-gaap_DebtInstrumentMaturityDateDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDateDescription" xlink:to="us-gaap_DebtInstrumentMaturityDateDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentMaturityDateDescription_lbl" xml:lang="en-US">Description of maturity date</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateNetCarryingValue" xlink:label="arl_RealEstateNetCarryingValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateNetCarryingValue" xlink:to="arl_RealEstateNetCarryingValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateNetCarryingValue_lbl" xml:lang="en-US">Real estate, net carrying value</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BondsPayable" xlink:label="arl_BondsPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsPayable" xlink:to="arl_BondsPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BondsPayable_lbl" xml:lang="en-US">Total outstanding bonds</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNet" xlink:to="us-gaap_DeferredFinanceCostsNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_DeferredFinanceCostsNet_2_lbl" xml:lang="en-US">Less: deferred bond issuance costs</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TotalOutstandingBondsNet" xlink:label="arl_TotalOutstandingBondsNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TotalOutstandingBondsNet" xlink:to="arl_TotalOutstandingBondsNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="arl_TotalOutstandingBondsNet_lbl" xml:lang="en-US">Total outstanding bonds, net</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TotalOustandingBondsNetAndAccruredInterest" xlink:label="arl_TotalOustandingBondsNetAndAccruredInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TotalOustandingBondsNetAndAccruredInterest" xlink:to="arl_TotalOustandingBondsNetAndAccruredInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="arl_TotalOustandingBondsNetAndAccruredInterest_lbl" xml:lang="en-US">Total oustanding bonds, net and accrued interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtByMaturityAbstract" xlink:label="us-gaap_LongTermDebtByMaturityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtByMaturityAbstract" xlink:to="us-gaap_LongTermDebtByMaturityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US">Year ended December 31,</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_lbl" xml:lang="en-US">2020</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsPayable" xlink:to="arl_BondsPayable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="arl_BondsPayable_2_lbl" xml:lang="en-US">Total</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_2_lbl" xml:lang="en-US">Debentures offering amount</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US">Effective interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US">Foreign currency gain (loss) - debenture transactions</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNet" xlink:to="us-gaap_DeferredFinanceCostsNet_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFinanceCostsNet_3_lbl" xml:lang="en-US">Bond issuance cost</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DebtInstrumentPeriodicPaymentPrincipal" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentPrincipal" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentPeriodicPaymentPrincipal" xlink:to="us-gaap_DebtInstrumentPeriodicPaymentPrincipal_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentPrincipal_lbl" xml:lang="en-US">Repayment of principal</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="us-gaap_InterestPaid_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaid_lbl" xml:lang="en-US">Interest paid to bondholders</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RestrictedCashCurrent" xlink:label="us-gaap_RestrictedCashCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashCurrent" xlink:to="us-gaap_RestrictedCashCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashCurrent_lbl" xml:lang="en-US">Funds deposited for princiapl and interest payment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="us-gaap_RelatedPartyTransactionLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_FeesAndCommissions1Abstract" xlink:label="arl_FeesAndCommissions1Abstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FeesAndCommissions1Abstract" xlink:to="arl_FeesAndCommissions1Abstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_FeesAndCommissions1Abstract_lbl" xml:lang="en-US">Fees:</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DueFromRelatedAdvisoryFees" xlink:label="arl_DueFromRelatedAdvisoryFees" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedAdvisoryFees" xlink:to="arl_DueFromRelatedAdvisoryFees_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DueFromRelatedAdvisoryFees_lbl" xml:lang="en-US">Advisory</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageBrokerageAndEquityRefinancingRelatedParty" xlink:label="arl_MortgageBrokerageAndEquityRefinancingRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageBrokerageAndEquityRefinancingRelatedParty" xlink:to="arl_MortgageBrokerageAndEquityRefinancingRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MortgageBrokerageAndEquityRefinancingRelatedParty_lbl" xml:lang="en-US">Mortgage brokerage and equity refinancing</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DueFromRelatedNetIncomeFee" xlink:label="arl_DueFromRelatedNetIncomeFee" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedNetIncomeFee" xlink:to="arl_DueFromRelatedNetIncomeFee_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DueFromRelatedNetIncomeFee_lbl" xml:lang="en-US">Net income</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DueFromRelatedPropertyAcquisition" xlink:label="arl_DueFromRelatedPropertyAcquisition" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedPropertyAcquisition" xlink:to="arl_DueFromRelatedPropertyAcquisition_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DueFromRelatedPropertyAcquisition_lbl" xml:lang="en-US">Property acquisition</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions" xlink:label="arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions" xlink:to="arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions_lbl" xml:lang="en-US">Property management, construction management and leasing commissions</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateBrokerageFeesRelatedParty" xlink:label="arl_RealEstateBrokerageFeesRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateBrokerageFeesRelatedParty" xlink:to="arl_RealEstateBrokerageFeesRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateBrokerageFeesRelatedParty_lbl" xml:lang="en-US">Real estate brokerage</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DueFromRelatedFeesAndCommissions" xlink:label="arl_DueFromRelatedFeesAndCommissions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedFeesAndCommissions" xlink:to="arl_DueFromRelatedFeesAndCommissions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DueFromRelatedFeesAndCommissions_lbl" xml:lang="en-US">Total fees</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RelatedPartyOtherExpenseAbstract" xlink:label="arl_RelatedPartyOtherExpenseAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyOtherExpenseAbstract" xlink:to="arl_RelatedPartyOtherExpenseAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RelatedPartyOtherExpenseAbstract_lbl" xml:lang="en-US">Other Expense:</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DueFromRelatedCostReimbursements" xlink:label="arl_DueFromRelatedCostReimbursements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedCostReimbursements" xlink:to="arl_DueFromRelatedCostReimbursements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DueFromRelatedCostReimbursements_lbl" xml:lang="en-US">Cost reimbursements</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InterestExpenseIncomeRelatedParty" xlink:label="arl_InterestExpenseIncomeRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestExpenseIncomeRelatedParty" xlink:to="arl_InterestExpenseIncomeRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_InterestExpenseIncomeRelatedParty_lbl" xml:lang="en-US">Interest paid (received)</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RelatedPartyOtherExpense" xlink:label="arl_RelatedPartyOtherExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyOtherExpense" xlink:to="arl_RelatedPartyOtherExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="arl_RelatedPartyOtherExpense_lbl" xml:lang="en-US">Total other expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RevenuesAbstract_2_lbl" xml:lang="en-US">Revenue:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="us-gaap_RevenueFromRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromRelatedParties" xlink:to="us-gaap_RevenueFromRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromRelatedParties_lbl" xml:lang="en-US">Rental</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DueFromRelatedPartiesUnclassifiedAbstract" xlink:label="us-gaap_DueFromRelatedPartiesUnclassifiedAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedPartiesUnclassifiedAbstract" xlink:to="us-gaap_DueFromRelatedPartiesUnclassifiedAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueFromRelatedPartiesUnclassifiedAbstract_lbl" xml:lang="en-US">Related party receivables [Roll Forward]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="us-gaap_DueFromRelatedParties_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_DueFromRelatedParties_2_lbl" xml:lang="en-US">Related party receivable at beginning</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" xlink:to="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_lbl" xml:lang="en-US">Cash transfers</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AdvisoryFeeToRelatedParty" xlink:to="arl_AdvisoryFeeToRelatedParty_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_AdvisoryFeeToRelatedParty_2_lbl" xml:lang="en-US">Advisory fees</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NetIncomeFeeToRelatedParty1" xlink:to="arl_NetIncomeFeeToRelatedParty1_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_NetIncomeFeeToRelatedParty1_2_lbl" xml:lang="en-US">Net income fee</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedCostReimbursements" xlink:to="arl_DueFromRelatedCostReimbursements_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_DueFromRelatedCostReimbursements_2_lbl" xml:lang="en-US">Cost reimbursements</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InterestIncomeRelatedPartyReceivable" xlink:label="arl_InterestIncomeRelatedPartyReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestIncomeRelatedPartyReceivable" xlink:to="arl_InterestIncomeRelatedPartyReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_InterestIncomeRelatedPartyReceivable_lbl" xml:lang="en-US">Interest income</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NotesReceivablePurchasedRelatedParty" xlink:label="arl_NotesReceivablePurchasedRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesReceivablePurchasedRelatedParty" xlink:to="arl_NotesReceivablePurchasedRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NotesReceivablePurchasedRelatedParty_lbl" xml:lang="en-US">Notes receivable purchased</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SalesCommissionsAndFees" xlink:label="us-gaap_SalesCommissionsAndFees" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesCommissionsAndFees" xlink:to="us-gaap_SalesCommissionsAndFees_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_SalesCommissionsAndFees_lbl" xml:lang="en-US">Fees and commissions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl" xml:lang="en-US">Expenses (paid) received by Advisor</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RelatedPartyFinancingMortgagePayments" xlink:label="arl_RelatedPartyFinancingMortgagePayments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyFinancingMortgagePayments" xlink:to="arl_RelatedPartyFinancingMortgagePayments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_RelatedPartyFinancingMortgagePayments_lbl" xml:lang="en-US">Financing (mortgage payments)</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SalesPurchasesCommission" xlink:label="arl_SalesPurchasesCommission" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SalesPurchasesCommission" xlink:to="arl_SalesPurchasesCommission_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SalesPurchasesCommission_lbl" xml:lang="en-US">Sales/purchases Commission</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent" xlink:label="us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent" xlink:to="us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent_lbl" xml:lang="en-US">Intercompany property transfers</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="us-gaap_DueFromRelatedParties_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_DueFromRelatedParties_3_lbl" xml:lang="en-US">Related party receivable at end</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DueFromRelatedPropertyRentalRevenue" xlink:label="arl_DueFromRelatedPropertyRentalRevenue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedPropertyRentalRevenue" xlink:to="arl_DueFromRelatedPropertyRentalRevenue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DueFromRelatedPropertyRentalRevenue_lbl" xml:lang="en-US">Rent received</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestReceivable" xlink:to="us-gaap_InterestReceivable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestReceivable_2_lbl" xml:lang="en-US">Interest receivable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_3_lbl" xml:lang="en-US">Principal payments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MortgageLoansOnRealEstate" xlink:label="us-gaap_MortgageLoansOnRealEstate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstate" xlink:to="us-gaap_MortgageLoansOnRealEstate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstate_lbl" xml:lang="en-US">Total notes receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InterestIncomeRecognizedRelatedParty" xlink:label="arl_InterestIncomeRecognizedRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestIncomeRecognizedRelatedParty" xlink:to="arl_InterestIncomeRecognizedRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_InterestIncomeRecognizedRelatedParty_lbl" xml:lang="en-US">Recognized interest income</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_InterestIncomeOriginatedRelatedParty" xlink:label="arl_InterestIncomeOriginatedRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestIncomeOriginatedRelatedParty" xlink:to="arl_InterestIncomeOriginatedRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_InterestIncomeOriginatedRelatedParty_lbl" xml:lang="en-US">Originated interest income</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeRelatedParty" xlink:to="us-gaap_InterestIncomeRelatedParty_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestIncomeRelatedParty_2_lbl" xml:lang="en-US">Interest income</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PrincipalRepaymentsRelatedPartyDebt" xlink:label="arl_PrincipalRepaymentsRelatedPartyDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PrincipalRepaymentsRelatedPartyDebt" xlink:to="arl_PrincipalRepaymentsRelatedPartyDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PrincipalRepaymentsRelatedPartyDebt_lbl" xml:lang="en-US">Principal repayments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:label="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:to="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_lbl" xml:lang="en-US">Proceeds from notes receivables</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermNotesPayable" xlink:to="us-gaap_LongTermNotesPayable_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermNotesPayable_3_lbl" xml:lang="en-US">Notes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Statutory tax rate</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfLand" xlink:to="us-gaap_AreaOfLand_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AreaOfLand_2_lbl" xml:lang="en-US">Area of land</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NumberOfPreferredStockConverted" xlink:label="arl_NumberOfPreferredStockConverted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfPreferredStockConverted" xlink:to="arl_NumberOfPreferredStockConverted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NumberOfPreferredStockConverted_lbl" xml:lang="en-US">Number of shares of preferred stock converted</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:to="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_2_lbl" xml:lang="en-US">Number of common stock issued for conversion</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_ManagementFee" xlink:label="arl_ManagementFee" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ManagementFee" xlink:to="arl_ManagementFee_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ManagementFee_lbl" xml:lang="en-US">Management fee</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AnnualPaymentPercentage" xlink:label="arl_AnnualPaymentPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AnnualPaymentPercentage" xlink:to="arl_AnnualPaymentPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AnnualPaymentPercentage_lbl" xml:lang="en-US">Annual pament percentage</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DeferredIncomeDetailsNarrativeAbstract" xlink:label="arl_DeferredIncomeDetailsNarrativeAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DeferredIncomeDetailsNarrativeAbstract" xlink:to="arl_DeferredIncomeDetailsNarrativeAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_DeferredIncomeDetailsNarrativeAbstract_lbl" xml:lang="en-US">Deferred Income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="us-gaap_DeferredGainOnSaleOfProperty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredGainOnSaleOfProperty" xlink:to="us-gaap_DeferredGainOnSaleOfProperty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredGainOnSaleOfProperty_lbl" xml:lang="en-US">Deferred gain</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConversionOfStockSharesConverted1" xlink:label="us-gaap_ConversionOfStockSharesConverted1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesConverted1" xlink:to="us-gaap_ConversionOfStockSharesConverted1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockSharesConverted1_lbl" xml:lang="en-US">Number of shares converted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ConversionOfStockSharesIssued1" xlink:label="us-gaap_ConversionOfStockSharesIssued1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesIssued1" xlink:to="us-gaap_ConversionOfStockSharesIssued1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConversionOfStockSharesIssued1_lbl" xml:lang="en-US">Number of shares issued upon conversion</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementAxis" xlink:to="us-gaap_TypeOfArrangementAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_TypeOfArrangementAxis_2_lbl" xml:lang="en-US">Collaborative Arrangement and Arrangement Other than Collaborative [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockDividendRatePercentage" xlink:label="us-gaap_PreferredStockDividendRatePercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendRatePercentage" xlink:to="us-gaap_PreferredStockDividendRatePercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockDividendRatePercentage_lbl" xml:lang="en-US">Preferred stock, dividend rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DividendsPayableAmountPerShare" xlink:label="us-gaap_DividendsPayableAmountPerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableAmountPerShare" xlink:to="us-gaap_DividendsPayableAmountPerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPayableAmountPerShare_lbl" xml:lang="en-US">Dividends payable annually (in dollars per share)</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DividendsPayableAmountQuartelyPerShare" xlink:label="arl_DividendsPayableAmountQuartelyPerShare" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DividendsPayableAmountQuartelyPerShare" xlink:to="arl_DividendsPayableAmountQuartelyPerShare_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DividendsPayableAmountQuartelyPerShare_lbl" xml:lang="en-US">Dividends payable quarterly (in dollars per share)</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PercentageOfAverageDailyClosingPriceOfCommonStock" xlink:label="arl_PercentageOfAverageDailyClosingPriceOfCommonStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PercentageOfAverageDailyClosingPriceOfCommonStock" xlink:to="arl_PercentageOfAverageDailyClosingPriceOfCommonStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PercentageOfAverageDailyClosingPriceOfCommonStock_lbl" xml:lang="en-US">Percentage of the average daily closing price of common stock</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_NumberOfTradingDays" xlink:label="arl_NumberOfTradingDays" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfTradingDays" xlink:to="arl_NumberOfTradingDays_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NumberOfTradingDays_lbl" xml:lang="en-US">Number of trading days</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_BusinessCombinationConsiderationTransferredEquity" xlink:label="arl_BusinessCombinationConsiderationTransferredEquity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BusinessCombinationConsiderationTransferredEquity" xlink:to="arl_BusinessCombinationConsiderationTransferredEquity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_BusinessCombinationConsiderationTransferredEquity_lbl" xml:lang="en-US">Series A Preferred Stock, acquire</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessCombinationConsiderationTransferred1" xlink:to="us-gaap_BusinessCombinationConsiderationTransferred1_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BusinessCombinationConsiderationTransferred1_2_lbl" xml:lang="en-US">Purchase consideration</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PurchaseOfAccruedUnpaidDividends" xlink:label="arl_PurchaseOfAccruedUnpaidDividends" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PurchaseOfAccruedUnpaidDividends" xlink:to="arl_PurchaseOfAccruedUnpaidDividends_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PurchaseOfAccruedUnpaidDividends_lbl" xml:lang="en-US">Purchase of accrued unpaid dividends</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_2_lbl" xml:lang="en-US">Income (loss) from continuing operations before income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_lbl" xml:lang="en-US">Current:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentFederalTaxExpenseBenefit" xlink:to="us-gaap_CurrentFederalTaxExpenseBenefit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit_lbl" xml:lang="en-US">Federal</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl" xml:lang="en-US">State</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_lbl" xml:lang="en-US">Deferred and Other:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Federal</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">State</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation" xlink:label="us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation" xlink:to="us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation_lbl" xml:lang="en-US">Total Tax Expense</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Income Tax Expense (Benefit) at Federal Statutory Rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xml:lang="en-US">State and Local Income Taxes Net of Federal Tax Benefit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:to="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther_lbl" xml:lang="en-US">Permanent differences</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_TimingDifferencesAbstract" xlink:label="arl_TimingDifferencesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TimingDifferencesAbstract" xlink:to="arl_TimingDifferencesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TimingDifferencesAbstract_lbl" xml:lang="en-US">Timing differences</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationDispositionOfAssets" xlink:label="us-gaap_IncomeTaxReconciliationDispositionOfAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationDispositionOfAssets" xlink:to="us-gaap_IncomeTaxReconciliationDispositionOfAssets_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DeferredGains" xlink:to="arl_DeferredGains_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl" xml:lang="en-US">Basis difference on fixed assets</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherBasisTimingDifferences" xlink:to="arl_OtherBasisTimingDifferences_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_OtherBasisTimingDifferences_lbl" xml:lang="en-US">Other basis/timing differences</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_UseGenerationOfNetOperatingLossCarryforwards_lbl" xml:lang="en-US">Generation (use) of net operating loss carryforwards</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_2_lbl" xml:lang="en-US">Reported Income Tax Expense</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl" xml:lang="en-US">Effective Tax Rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsNetAbstract" xlink:label="us-gaap_DeferredTaxAssetsNetAbstract" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts_lbl" xml:lang="en-US">Allowance for losses on Notes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="us-gaap_DeferredTaxAssetsOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsOther" xlink:to="us-gaap_DeferredTaxAssetsOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsOther_lbl" xml:lang="en-US">Installment Note on Land Sale</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction" xlink:label="us-gaap_DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction_lbl" xml:lang="en-US">Deferred Gain</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsUnrealizedCurrencyLosses" xlink:label="us-gaap_DeferredTaxAssetsUnrealizedCurrencyLosses" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsUnrealizedCurrencyLosses_lbl" xml:lang="en-US">Foreign currency translations</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:to="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_lbl" xml:lang="en-US">Net Operating Loss Carryforward</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="us-gaap_DeferredTaxAssetsGross" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredTaxAssetsGross_lbl" xml:lang="en-US">Total Deferred Tax Assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_DeferredTaxAssetsValuationAllowance_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_lbl" xml:lang="en-US">Less: Valuation Allowance</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="us-gaap_DeferredTaxAssetsNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNet" xlink:to="us-gaap_DeferredTaxAssetsNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredTaxAssetsNet_lbl" xml:lang="en-US">Total Net Deferred Tax Assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxLiabilitiesNetAbstract" xlink:label="us-gaap_DeferredTaxLiabilitiesNetAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesNetAbstract_lbl" xml:lang="en-US">Total Deferred Tax Liability</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:to="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_lbl" xml:lang="en-US">Basis Differences for fixed assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities" xlink:label="us-gaap_DeferredIncomeTaxLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilities" xlink:to="us-gaap_DeferredIncomeTaxLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="us-gaap_DeferredIncomeTaxLiabilities_lbl" xml:lang="en-US">Total Deferred Tax Liability</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNet" xlink:to="us-gaap_DeferredTaxAssetsNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsNet_2_lbl" xml:lang="en-US">Current Net Deferred Tax Asset</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilities" xlink:to="us-gaap_DeferredIncomeTaxLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DeferredIncomeTaxLiabilities_2_lbl" xml:lang="en-US">Long-Term Net Deferred Tax Liability</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet_lbl" xml:lang="en-US">Net deferred tax asset (liability)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="us-gaap_OperatingLossCarryforwards" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLossCarryforwards_lbl" xml:lang="en-US">Net operating losses carryforwards</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_lbl" xml:lang="en-US">2020</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_lbl" xml:lang="en-US">2021</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_lbl" xml:lang="en-US">2023</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_lbl" xml:lang="en-US">2024</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:to="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_3_lbl" xml:lang="en-US">Property operating expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageAndLoanInterestIncludingCharges" xlink:label="arl_MortgageAndLoanInterestIncludingCharges" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageAndLoanInterestIncludingCharges" xlink:to="arl_MortgageAndLoanInterestIncludingCharges_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_MortgageAndLoanInterestIncludingCharges_lbl" xml:lang="en-US">Mortgage and loan interest</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_3_lbl" xml:lang="en-US">Loss on debt extinguishment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_InterestIncomeOther" xlink:label="us-gaap_InterestIncomeOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeOther" xlink:to="us-gaap_InterestIncomeOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestIncomeOther_lbl" xml:lang="en-US">Interest income</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:to="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_3_lbl" xml:lang="en-US">Gain (loss) on the sale of income producing property</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_2_lbl" xml:lang="en-US">Segment operating (loss) income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:label="us-gaap_PaymentsForProceedsFromProductiveAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:to="us-gaap_PaymentsForProceedsFromProductiveAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForProceedsFromProductiveAssets_lbl" xml:lang="en-US">Capital expenditures</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyNet" xlink:to="us-gaap_RealEstateInvestmentPropertyNet_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RealEstateInvestmentPropertyNet_4_lbl" xml:lang="en-US">Real estate assets</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_PropertySalesAbstract" xlink:label="arl_PropertySalesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PropertySalesAbstract" xlink:to="arl_PropertySalesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_PropertySalesAbstract_lbl" xml:lang="en-US">Property Sales</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateSalesPrice" xlink:label="arl_RealEstateSalesPrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateSalesPrice" xlink:to="arl_RealEstateSalesPrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateSalesPrice_lbl" xml:lang="en-US">Sales price</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateCostOfSales" xlink:label="arl_RealEstateCostOfSales" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateCostOfSales" xlink:to="arl_RealEstateCostOfSales_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_RealEstateCostOfSales_lbl" xml:lang="en-US">Cost of sale</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RecognizedPriorDeferredGain" xlink:label="arl_RecognizedPriorDeferredGain" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RecognizedPriorDeferredGain" xlink:to="arl_RecognizedPriorDeferredGain_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RecognizedPriorDeferredGain_lbl" xml:lang="en-US">Recognized prior deferred gain</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfProperties" xlink:to="us-gaap_GainLossOnSaleOfProperties_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GainLossOnSaleOfProperties_2_lbl" xml:lang="en-US">Gain (loss) on sale</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingIncomeLoss_3_lbl" xml:lang="en-US">Segment operating income</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_OtherNonSegmentItemsOfIncomeExpenseAbstract" xlink:label="arl_OtherNonSegmentItemsOfIncomeExpenseAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherNonSegmentItemsOfIncomeExpenseAbstract" xlink:to="arl_OtherNonSegmentItemsOfIncomeExpenseAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OtherNonSegmentItemsOfIncomeExpenseAbstract_lbl" xml:lang="en-US">Other non-segment items of income (expense)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GeneralAndAdministrativeExpense_3_lbl" xml:lang="en-US">General and administrative</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NetIncomeFeeToRelatedParty1" xlink:to="arl_NetIncomeFeeToRelatedParty1_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="arl_NetIncomeFeeToRelatedParty1_3_lbl" xml:lang="en-US">Net income fee to related party</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AdvisoryFeeToRelatedParty" xlink:to="arl_AdvisoryFeeToRelatedParty_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="arl_AdvisoryFeeToRelatedParty_3_lbl" xml:lang="en-US">Advisory fee to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" xlink:to="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_lbl" xml:lang="en-US">Gain on disposition of 50% interest in VAA</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_3_lbl" xml:lang="en-US">Foreign currency translation (loss) gain</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EarningsFromJointVenture" xlink:to="arl_EarningsFromJointVenture_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_EarningsFromJointVenture_2_lbl" xml:lang="en-US">Loss from joint venture</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossOnSaleOfInvestments" xlink:to="us-gaap_LossOnSaleOfInvestments_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_LossOnSaleOfInvestments_2_lbl" xml:lang="en-US">Loss on sale of investments</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_5_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_5_lbl" xml:lang="en-US">Earnings from unconsolidated investees</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_3_lbl" xml:lang="en-US">Income tax expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_2_lbl" xml:lang="en-US">Investments in unconsolidated subsidiaries and investees</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableNet" xlink:to="us-gaap_NotesReceivableNet_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NotesReceivableNet_3_lbl" xml:lang="en-US">Total notes and interest receivable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_2_lbl" xml:lang="en-US">Total assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_4_lbl" xml:lang="en-US">Total operating expenses</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingIncomeLoss_4_lbl" xml:lang="en-US">Operating income</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpense_2_lbl" xml:lang="en-US">Other (expense) income</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_2_lbl" xml:lang="en-US">(Loss) income before gain on sales, non-contolling interest, and taxes</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal" xlink:to="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal_2_lbl" xml:lang="en-US">Gain on formation of joint venture</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:to="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_4_lbl" xml:lang="en-US">Gain on sale of income producing properties</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GainLossOnLandSales" xlink:to="arl_GainLossOnLandSales_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="arl_GainLossOnLandSales_4_lbl" xml:lang="en-US">Gain (loss) on land sales</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_2_lbl" xml:lang="en-US">Net (loss) income from continued operations</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_IncomeLossAttributableToNoncontrollingInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossAttributableToNoncontrollingInterest" xlink:to="us-gaap_IncomeLossAttributableToNoncontrollingInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Less: net (income) loss attributable to non-controlling interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:label="us-gaap_PreferredStockDividendsIncomeStatementImpact" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:to="us-gaap_PreferredStockDividendsIncomeStatementImpact_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PreferredStockDividendsIncomeStatementImpact_lbl" xml:lang="en-US">Preferred dividend requirement</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareAbstract_2_lbl" xml:lang="en-US">PER SHARE DATA</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsPerBasicShare" xlink:to="us-gaap_IncomeLossFromContinuingOperationsPerBasicShare_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsPerBasicShare_2_lbl" xml:lang="en-US">(Loss) income from continued operations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasic_2_lbl" xml:lang="en-US">Net income (loss) applicable to common shares</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesIssuedBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesIssuedBasic_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesIssuedBasic_2_lbl" xml:lang="en-US">Weighted average common shares used in computing earnings per share</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare" xlink:to="us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare_2_lbl" xml:lang="en-US">(Loss) income from continued operations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_2_lbl" xml:lang="en-US">Net (loss) income applicable to common shares</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_2_lbl" xml:lang="en-US">Weighted average common shares used in computing diluted earnings per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_GuaranteeObligationsMaximumExposure" xlink:label="us-gaap_GuaranteeObligationsMaximumExposure" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GuaranteeObligationsMaximumExposure" xlink:to="us-gaap_GuaranteeObligationsMaximumExposure_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GuaranteeObligationsMaximumExposure_lbl" xml:lang="en-US">Loan guarantee amount</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OtherLongTermNotesPayable" xlink:label="us-gaap_OtherLongTermNotesPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLongTermNotesPayable" xlink:to="us-gaap_OtherLongTermNotesPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLongTermNotesPayable_lbl" xml:lang="en-US">Notes Payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LossContingencyDamagesSoughtValue" xlink:label="us-gaap_LossContingencyDamagesSoughtValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyDamagesSoughtValue" xlink:to="us-gaap_LossContingencyDamagesSoughtValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyDamagesSoughtValue_lbl" xml:lang="en-US">Damages sought value</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LossContingencyActualDamagesSoughtValue" xlink:label="arl_LossContingencyActualDamagesSoughtValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LossContingencyActualDamagesSoughtValue" xlink:to="arl_LossContingencyActualDamagesSoughtValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LossContingencyActualDamagesSoughtValue_lbl" xml:lang="en-US">Actual damages sought value</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_LossContingencyDamagesSoughtInterestValue" xlink:label="arl_LossContingencyDamagesSoughtInterestValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LossContingencyDamagesSoughtInterestValue" xlink:to="arl_LossContingencyDamagesSoughtInterestValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LossContingencyDamagesSoughtInterestValue_lbl" xml:lang="en-US">Interest damages sought value</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LossContingencyNameOfPlaintiff" xlink:label="us-gaap_LossContingencyNameOfPlaintiff" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyNameOfPlaintiff" xlink:to="us-gaap_LossContingencyNameOfPlaintiff_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyNameOfPlaintiff_lbl" xml:lang="en-US">Description of plaintiff</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LossContingencyNameOfDefendant" xlink:label="us-gaap_LossContingencyNameOfDefendant" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyNameOfDefendant" xlink:to="us-gaap_LossContingencyNameOfDefendant_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyNameOfDefendant_lbl" xml:lang="en-US">Description of defendant</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LossContingencyAllegations" xlink:label="us-gaap_LossContingencyAllegations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyAllegations" xlink:to="us-gaap_LossContingencyAllegations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyAllegations_lbl" xml:lang="en-US">Description of allegation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReceivableWithImputedInterestFaceAmount" xlink:label="us-gaap_ReceivableWithImputedInterestFaceAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivableWithImputedInterestFaceAmount" xlink:to="us-gaap_ReceivableWithImputedInterestFaceAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReceivableWithImputedInterestFaceAmount_lbl" xml:lang="en-US">Notes receivable from the sale of ART</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_UnfundedLoanCommitment" xlink:label="arl_UnfundedLoanCommitment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnfundedLoanCommitment" xlink:to="arl_UnfundedLoanCommitment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnfundedLoanCommitment_lbl" xml:lang="en-US">Unfunded loan commitment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LossContingencyDamagesAwardedValue" xlink:label="us-gaap_LossContingencyDamagesAwardedValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyDamagesAwardedValue" xlink:to="us-gaap_LossContingencyDamagesAwardedValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyDamagesAwardedValue_lbl" xml:lang="en-US">Damages - awarded amount</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DamagesPrejudgementInterest" xlink:label="arl_DamagesPrejudgementInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DamagesPrejudgementInterest" xlink:to="arl_DamagesPrejudgementInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DamagesPrejudgementInterest_lbl" xml:lang="en-US">Damages - pre-judgement interest</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_DamagesTotal" xlink:label="arl_DamagesTotal" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DamagesTotal" xlink:to="arl_DamagesTotal_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DamagesTotal_lbl" xml:lang="en-US">Damages - total</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AwardedAttorneyFees" xlink:label="arl_AwardedAttorneyFees" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AwardedAttorneyFees" xlink:to="arl_AwardedAttorneyFees_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AwardedAttorneyFees_lbl" xml:lang="en-US">Awarded attorney fees</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MinorityStockholders" xlink:label="arl_MinorityStockholders" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MinorityStockholders" xlink:to="arl_MinorityStockholders_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MinorityStockholders_lbl" xml:lang="en-US">Minority stockholders</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockSharesIssued_2_lbl" xml:lang="en-US">Preferred stock, issued (in shares)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PreferredStockSharesOutstanding_2_lbl" xml:lang="en-US">Preferred stock, outstanding (in shares)</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_SharesHeldBySubsidiaries" xlink:label="arl_SharesHeldBySubsidiaries" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SharesHeldBySubsidiaries" xlink:to="arl_SharesHeldBySubsidiaries_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_SharesHeldBySubsidiaries_lbl" xml:lang="en-US">Shares held by subsidiaries</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:label="us-gaap_DividendsPayableCurrentAndNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="us-gaap_DividendsPayableCurrentAndNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">Accrued dividends unpaid</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfPreferredStockConverted" xlink:to="arl_NumberOfPreferredStockConverted_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_NumberOfPreferredStockConverted_2_lbl" xml:lang="en-US">Number of preferred stock converted</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_AccumulatedDividendsUnpaidUponConversion" xlink:label="arl_AccumulatedDividendsUnpaidUponConversion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AccumulatedDividendsUnpaidUponConversion" xlink:to="arl_AccumulatedDividendsUnpaidUponConversion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_AccumulatedDividendsUnpaidUponConversion_lbl" xml:lang="en-US">Accumulated dividends unpaid upon conversion</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Stock options outstanding</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis" xlink:to="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis_2_lbl" xml:lang="en-US">MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:label="srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:to="srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_lbl" xml:lang="en-US">Encumbrances</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_lbl" xml:lang="en-US">Initial Cost Land</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_lbl" xml:lang="en-US">Initial Cost Building &amp; Improvements</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_lbl" xml:lang="en-US">Cost Capitalized Subsequent to Acquisition Improvements</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges" xlink:label="arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges" xlink:to="arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges_lbl" xml:lang="en-US">Asset Impairment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_lbl" xml:lang="en-US">Gross Amounts of Which Carried at End of Year Land</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:to="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_lbl" xml:lang="en-US">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateGrossAtCarryingValue" xlink:label="us-gaap_RealEstateGrossAtCarryingValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateGrossAtCarryingValue" xlink:to="us-gaap_RealEstateGrossAtCarryingValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_lbl" xml:lang="en-US">Gross Amounts of Which Carried at End of Year Total</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciation" xlink:to="us-gaap_RealEstateAccumulatedDepreciation_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_2_lbl" xml:lang="en-US">Accumulated Depreciation</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2" xlink:label="arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2" xlink:to="arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2_lbl" xml:lang="en-US">Date of Construction</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateAndAccumulatedDepreciationDateAcquired" xlink:label="arl_RealEstateAndAccumulatedDepreciationDateAcquired" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAndAccumulatedDepreciationDateAcquired" xlink:to="arl_RealEstateAndAccumulatedDepreciationDateAcquired_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateAndAccumulatedDepreciationDateAcquired_lbl" xml:lang="en-US">Date Acquired</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_3_lbl" xml:lang="en-US">Life on Which Depreciation In Latest Statement of Operation is Computed</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:label="srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:to="srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract_lbl" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:label="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:to="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_lbl" xml:lang="en-US">Reconciliation of Real Estate</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateGrossAtCarryingValue" xlink:to="us-gaap_RealEstateGrossAtCarryingValue_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_2_lbl" xml:lang="en-US">Balance at at beginning</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateAdditionsAbstract" xlink:label="arl_RealEstateAdditionsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAdditionsAbstract" xlink:to="arl_RealEstateAdditionsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateAdditionsAbstract_lbl" xml:lang="en-US">Additions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateOtherAcquisitions" xlink:label="us-gaap_RealEstateOtherAcquisitions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateOtherAcquisitions" xlink:to="us-gaap_RealEstateOtherAcquisitions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateOtherAcquisitions_lbl" xml:lang="en-US">Acquisitions, improvements and construction</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateDeductionsAbstract" xlink:label="arl_RealEstateDeductionsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateDeductionsAbstract" xlink:to="arl_RealEstateDeductionsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateDeductionsAbstract_lbl" xml:lang="en-US">Deductions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateCostOfRealEstateSold" xlink:label="us-gaap_RealEstateCostOfRealEstateSold" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateCostOfRealEstateSold" xlink:to="us-gaap_RealEstateCostOfRealEstateSold_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateCostOfRealEstateSold_lbl" xml:lang="en-US">Sale of real estate</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateGrossAtCarryingValue" xlink:to="us-gaap_RealEstateGrossAtCarryingValue_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_3_lbl" xml:lang="en-US">Balance at ending</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:label="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:to="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_lbl" xml:lang="en-US">Reconciliation of Accumulated Depreciation</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciation" xlink:to="us-gaap_RealEstateAccumulatedDepreciation_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_3_lbl" xml:lang="en-US">Balance at at beginning</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateAccumulatedDepreciationAdditionsAbstract" xlink:label="arl_RealEstateAccumulatedDepreciationAdditionsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAccumulatedDepreciationAdditionsAbstract" xlink:to="arl_RealEstateAccumulatedDepreciationAdditionsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_RealEstateAccumulatedDepreciationAdditionsAbstract_lbl" xml:lang="en-US">Additions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:to="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_lbl" xml:lang="en-US">Depreciation</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_RealEstateAccumulatedDepreciationDeductionsAbstract" xlink:label="arl_RealEstateAccumulatedDepreciationDeductionsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAccumulatedDepreciationDeductionsAbstract" xlink:to="arl_RealEstateAccumulatedDepreciationDeductionsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_RealEstateAccumulatedDepreciationDeductionsAbstract_lbl" xml:lang="en-US">Deductions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:label="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:to="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_lbl" xml:lang="en-US">Sale of real estate</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateAccumulatedDepreciation" xlink:to="us-gaap_RealEstateAccumulatedDepreciation_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_4_lbl" xml:lang="en-US">Balance at ending</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageLoansOnRealEstateSecurity" xlink:label="arl_MortgageLoansOnRealEstateSecurity" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstateSecurity" xlink:to="arl_MortgageLoansOnRealEstateSecurity_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MortgageLoansOnRealEstateSecurity_lbl" xml:lang="en-US">Security</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow" xlink:label="arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow" xlink:to="arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow_lbl" xml:lang="en-US">% of Cash Flow</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageLoanOnRealEstateFinalMaturityDate1" xlink:label="arl_MortgageLoanOnRealEstateFinalMaturityDate1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoanOnRealEstateFinalMaturityDate1" xlink:to="arl_MortgageLoanOnRealEstateFinalMaturityDate1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_MortgageLoanOnRealEstateFinalMaturityDate1_lbl" xml:lang="en-US">Final Maturity Date</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstatePeriodicPaymentTerms" xlink:label="srt_MortgageLoansOnRealEstatePeriodicPaymentTerms" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstatePeriodicPaymentTerms" xlink:to="srt_MortgageLoansOnRealEstatePeriodicPaymentTerms_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstatePeriodicPaymentTerms_lbl" xml:lang="en-US">Periodic Payment Terms</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstatePriorLiens1" xlink:label="srt_MortgageLoansOnRealEstatePriorLiens1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstatePriorLiens1" xlink:to="srt_MortgageLoansOnRealEstatePriorLiens1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstatePriorLiens1_lbl" xml:lang="en-US">Prior Liens</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:label="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:to="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_lbl" xml:lang="en-US">Face Amount of Mortgage</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstate" xlink:to="us-gaap_MortgageLoansOnRealEstate_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstate_2_lbl" xml:lang="en-US">Carrying Amount of Mortgage</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:label="srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:to="srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_lbl" xml:lang="en-US">Principal or Loans Subject to Delinquent Principal or Interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableAllowance" xlink:to="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US">Allowance for estimated losses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd#srt_MortgageLoansOnRealEstateAbstract" xlink:label="srt_MortgageLoansOnRealEstateAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateAbstract" xlink:to="srt_MortgageLoansOnRealEstateAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateAbstract_lbl" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:label="us-gaap_MovementInMortgageLoansOnRealEstateRollForward" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:to="us-gaap_MovementInMortgageLoansOnRealEstateRollForward_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MovementInMortgageLoansOnRealEstateRollForward_lbl" xml:lang="en-US">Movement in Mortgage Loans on Real Estate [Roll Forward]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableNet" xlink:to="us-gaap_NotesReceivableNet_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_NotesReceivableNet_4_lbl" xml:lang="en-US">Balance at beginning</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageLoansOnRealEstateAdditionsAbstract" xlink:label="arl_MortgageLoansOnRealEstateAdditionsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstateAdditionsAbstract" xlink:to="arl_MortgageLoansOnRealEstateAdditionsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_MortgageLoansOnRealEstateAdditionsAbstract_lbl" xml:lang="en-US">Additions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:label="us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:to="us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_lbl" xml:lang="en-US">New mortgage loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease" xlink:label="us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease" xlink:to="us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease_lbl" xml:lang="en-US">Increase (decrease) of interest receivable on mortgage loans</link:label>
      <link:loc xlink:type="locator" xlink:href="arl-20191231.xsd#arl_MortgageLoansOnRealEstateDeductionsAbstract" xlink:label="arl_MortgageLoansOnRealEstateDeductionsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstateDeductionsAbstract" xlink:to="arl_MortgageLoansOnRealEstateDeductionsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="arl_MortgageLoansOnRealEstateDeductionsAbstract_lbl" xml:lang="en-US">Deductions</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:to="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_2_lbl" xml:lang="en-US">Amounts received</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MortgageLoansOnRealEstateOtherDeductions" xlink:label="us-gaap_MortgageLoansOnRealEstateOtherDeductions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateOtherDeductions" xlink:to="us-gaap_MortgageLoansOnRealEstateOtherDeductions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_MortgageLoansOnRealEstateOtherDeductions_lbl" xml:lang="en-US">Non-cash reductions</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesReceivableNet" xlink:to="us-gaap_NotesReceivableNet_5_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_NotesReceivableNet_5_lbl" xml:lang="en-US">Balance at ending</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateSubjectToSalesContractsAtCost" xlink:to="arl_RealEstateSubjectToSalesContractsAtCost_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateSubjectToSalesContractsAtCost_doc" xml:lang="en-US">Carrying amount as of the balance sheet date of real estate subject to sales contracts at cost.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondAndBondInterestPayable" xlink:to="arl_BondAndBondInterestPayable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BondAndBondInterestPayable_doc" xml:lang="en-US">Bond and bond interest payable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyMember" xlink:to="arl_RelatedPartyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RelatedPartyMember_doc" xml:lang="en-US">It represents related party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AmericanRealtyInvestorsIncAndSubsidiariesMember" xlink:to="arl_AmericanRealtyInvestorsIncAndSubsidiariesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AmericanRealtyInvestorsIncAndSubsidiariesMember_doc" xml:lang="en-US">American Realty Investors, Inc. and subsidiaries.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TranscontinentalRealtyInvestorsMember" xlink:to="arl_TranscontinentalRealtyInvestorsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TranscontinentalRealtyInvestorsMember_doc" xml:lang="en-US">Transcontinental Realty Investors, Inc. (&amp;#8220;TCI&amp;#8221;).</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NetIncomeFeeToRelatedParty1" xlink:to="arl_NetIncomeFeeToRelatedParty1_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NetIncomeFeeToRelatedParty1_doc" xml:lang="en-US">The amount of net income fee to related parties during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AdvisoryFeeToRelatedParty" xlink:to="arl_AdvisoryFeeToRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AdvisoryFeeToRelatedParty_doc" xml:lang="en-US">The amount of advisory fees to related parties, during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GainLossOnLandSales" xlink:to="arl_GainLossOnLandSales_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_GainLossOnLandSales_doc" xml:lang="en-US">This element represents the amount of gain (loss) on sale of land during the reporting period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AdjustmentToAdditionalPaidInCapitalDistributionToEquityPartner" xlink:to="arl_AdjustmentToAdditionalPaidInCapitalDistributionToEquityPartner_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AdjustmentToAdditionalPaidInCapitalDistributionToEquityPartner_doc" xml:lang="en-US">Amount represents value of distribution to equity partner.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PaymentsForBonds" xlink:to="arl_PaymentsForBonds_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PaymentsForBonds_doc" xml:lang="en-US">Payments for bonds.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RecurringPaymentOfPrincipalOnNotesPayable" xlink:to="arl_RecurringPaymentOfPrincipalOnNotesPayable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RecurringPaymentOfPrincipalOnNotesPayable_doc" xml:lang="en-US">The amount of recurring payament of principal on note payable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RepaymentsOfCommercialNotePayable" xlink:to="arl_RepaymentsOfCommercialNotePayable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RepaymentsOfCommercialNotePayable_doc" xml:lang="en-US">The cash outflow for payment on commercial note payable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PreferredStockDividendsSeries" xlink:to="arl_PreferredStockDividendsSeries_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PreferredStockDividendsSeries_doc" xml:lang="en-US">Amount refers to preferred stock dividends series.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableIssuedOnAcquisitionOfLand" xlink:to="arl_NotesPayableIssuedOnAcquisitionOfLand_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableIssuedOnAcquisitionOfLand_doc" xml:lang="en-US">Amount represents value of issuance of notes payable on acquisition of land.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProceedsFromDispositionOf50InterestInVaa" xlink:to="arl_ProceedsFromDispositionOf50InterestInVaa_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ProceedsFromDispositionOf50InterestInVaa_doc" xml:lang="en-US">Amount of cash inflow from proceeds from disposition of 50% interest in VAA.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InvestmentInUnconsolidatedRealEstateEntities" xlink:to="arl_InvestmentInUnconsolidatedRealEstateEntities_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InvestmentInUnconsolidatedRealEstateEntities_doc" xml:lang="en-US">The cash outflow associated with investment in unconsolidated real estate entities.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GainOnFormationOfVaa" xlink:to="arl_GainOnFormationOfVaa_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_GainOnFormationOfVaa_doc" xml:lang="en-US">Amount of gain on formation of VAA.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AmericanRealtyInvestorsIncMember" xlink:to="arl_AmericanRealtyInvestorsIncMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AmericanRealtyInvestorsIncMember_doc" xml:lang="en-US">American Realty Investors, Inc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_IncomeOpportunityRealtyInvestorsIncMember" xlink:to="arl_IncomeOpportunityRealtyInvestorsIncMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_IncomeOpportunityRealtyInvestorsIncMember_doc" xml:lang="en-US">Income Opportunity Realty Investors, Inc. (&amp;amp;amp;amp;#8220;IOR&amp;amp;amp;amp;#8221;)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VictoryAbodeApartmentsLLCMember" xlink:to="arl_VictoryAbodeApartmentsLLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_VictoryAbodeApartmentsLLCMember_doc" xml:lang="en-US">Represents victory abode apartment LLC Member.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AbodeJypLlcMember" xlink:to="arl_AbodeJypLlcMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AbodeJypLlcMember_doc" xml:lang="en-US">Abode JVP, LLC</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SummersetIntermediateHoldings2LLCMember" xlink:to="arl_SummersetIntermediateHoldings2LLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SummersetIntermediateHoldings2LLCMember_doc" xml:lang="en-US">Represents Summer Intermediate Holdings LLC Member.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CommercialPropertyMember" xlink:to="arl_CommercialPropertyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_CommercialPropertyMember_doc" xml:lang="en-US">Commercial property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VotingInterestInJointVenture" xlink:to="arl_VotingInterestInJointVenture_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_VotingInterestInJointVenture_doc" xml:lang="en-US">Voting interest in joint venture.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProfitParticipationRightsPercentage" xlink:to="arl_ProfitParticipationRightsPercentage_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ProfitParticipationRightsPercentage_doc" xml:lang="en-US">The percentage of profit participation rights.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProjectsInDevelopment" xlink:to="arl_ProjectsInDevelopment_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ProjectsInDevelopment_doc" xml:lang="en-US">The number of projects in development.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInvestmentTotalOtherExpense" xlink:to="arl_EquityMethodInvestmentTotalOtherExpense_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_EquityMethodInvestmentTotalOtherExpense_doc" xml:lang="en-US">The amount of the other expenses reported by an equity method investment of the entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInterestExpenseOnMezzanineLoan" xlink:to="arl_EquityMethodInterestExpenseOnMezzanineLoan_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_EquityMethodInterestExpenseOnMezzanineLoan_doc" xml:lang="en-US">Interest expense on mezzanine loan to reconcile net income (loss) of equity method investment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquitymethodLeaseIntangiblesAmortizationExpense" xlink:to="arl_EquitymethodLeaseIntangiblesAmortizationExpense_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_EquitymethodLeaseIntangiblesAmortizationExpense_doc" xml:lang="en-US">Amortization expense to reconcile net income (loss) of equity method investment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodDepreciationBasisDifferences" xlink:to="arl_EquityMethodDepreciationBasisDifferences_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_EquityMethodDepreciationBasisDifferences_doc" xml:lang="en-US">Depreciation basis difference to reconcile net income (loss) of equity method investment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodAdjustedNetIncome" xlink:to="arl_EquityMethodAdjustedNetIncome_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_EquityMethodAdjustedNetIncome_doc" xml:lang="en-US">Adjusted net income of the equity method investment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EarningsFromJointVenture" xlink:to="arl_EarningsFromJointVenture_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_EarningsFromJointVenture_doc" xml:lang="en-US">This item represents the entity's proportionate share for the period of the net income (loss) of its investee the joint venture.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TXDallasMember" xlink:to="arl_TXDallasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TXDallasMember_doc" xml:lang="en-US">Geographical area.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TXHoustonMember" xlink:to="arl_TXHoustonMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TXHoustonMember_doc" xml:lang="en-US">Geographical area.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LakesideLoftsApartmentsMember" xlink:to="arl_LakesideLoftsApartmentsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LakesideLoftsApartmentsMember_doc" xml:lang="en-US">Name of the property, for example, but not limited to, ABC Shopping Center.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FramersBranchTXMember" xlink:to="arl_FramersBranchTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FramersBranchTXMember_doc" xml:lang="en-US">Geographical area.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentProjectsInDevelopmentMember" xlink:to="arl_ApartmentProjectsInDevelopmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ApartmentProjectsInDevelopmentMember_doc" xml:lang="en-US">Name of the property, for example, but not limited to, ABC Shopping Center.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TotalProjectedCosts" xlink:to="arl_TotalProjectedCosts_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TotalProjectedCosts_doc" xml:lang="en-US">The total projected costs of projects in development.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_Subsidiaries23Member" xlink:to="arl_Subsidiaries23Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_Subsidiaries23Member_doc" xml:lang="en-US">It represent subsidiaries.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DevelopmentProjectsMember" xlink:to="arl_DevelopmentProjectsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DevelopmentProjectsMember_doc" xml:lang="en-US">It represent develpoment projects.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfPortfolioContributed" xlink:to="arl_NumberOfPortfolioContributed_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NumberOfPortfolioContributed_doc" xml:lang="en-US">The number of portolio contributed.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestHeld" xlink:to="arl_InterestHeld_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InterestHeld_doc" xml:lang="en-US">Represents interets held.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CashPaymentUponClosing" xlink:to="arl_CashPaymentUponClosing_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_CashPaymentUponClosing_doc" xml:lang="en-US">The cash payment received upn closing of joint venture formation.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BuildingsAndImprovementsMember" xlink:to="arl_BuildingsAndImprovementsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BuildingsAndImprovementsMember_doc" xml:lang="en-US">Represent information about the buildings and improvements.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TenantImprovementsMember" xlink:to="arl_TenantImprovementsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TenantImprovementsMember_doc" xml:lang="en-US">Represent information about the tenant improvements.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FurnitureFixturesAndEquipmentMember" xlink:to="arl_FurnitureFixturesAndEquipmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FurnitureFixturesAndEquipmentMember_doc" xml:lang="en-US">Represent information about the furniture fixtures and equipment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FarmersBranchTexasMember" xlink:to="arl_FarmersBranchTexasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FarmersBranchTexasMember_doc" xml:lang="en-US">Farmers Branch, Texas.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ForneyTexasMember" xlink:to="arl_ForneyTexasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ForneyTexasMember_doc" xml:lang="en-US">This member stands for forney Texas.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DallasTexasMember" xlink:to="arl_DallasTexasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DallasTexasMember_doc" xml:lang="en-US">Represent information about the dallas texas.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NashvilleTennesseeMember" xlink:to="arl_NashvilleTennesseeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NashvilleTennesseeMember_doc" xml:lang="en-US">Represent information about the nashville tennessee.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FortWorthTexasMember" xlink:to="arl_FortWorthTexasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FortWorthTexasMember_doc" xml:lang="en-US">Represent information about the fort worth texas.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MaryEsterFloridaMember" xlink:to="arl_MaryEsterFloridaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MaryEsterFloridaMember_doc" xml:lang="en-US">Represent information about the mary ester florida.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AthensAlabamaMember" xlink:to="arl_AthensAlabamaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AthensAlabamaMember_doc" xml:lang="en-US">The member refer to name of real estate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableMember" xlink:to="arl_NotesPayableMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableMember_doc" xml:lang="en-US">This member stands for notes payable of the entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CollinCountyTexasMember" xlink:to="arl_CollinCountyTexasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_CollinCountyTexasMember_doc" xml:lang="en-US">Represent information about the collin county texas.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ThirdPartyLandDeveloperMember" xlink:to="arl_ThirdPartyLandDeveloperMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ThirdPartyLandDeveloperMember_doc" xml:lang="en-US">Represent information about the third party land developer.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ClarkCountyNevadaMember" xlink:to="arl_ClarkCountyNevadaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ClarkCountyNevadaMember_doc" xml:lang="en-US">Represent information about the clark county nevada.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AreaOfLandSold" xlink:to="arl_AreaOfLandSold_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AreaOfLandSold_doc" xml:lang="en-US">The area of land sold during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AreaOfLandPurchased" xlink:to="arl_AreaOfLandPurchased_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AreaOfLandPurchased_doc" xml:lang="en-US">The area of land purchased during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PaymentsToConstructionAndDevelopRealEstateAssets" xlink:to="arl_PaymentsToConstructionAndDevelopRealEstateAssets_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PaymentsToConstructionAndDevelopRealEstateAssets_doc" xml:lang="en-US">Payments for predevelopment and construction of real estate assets is the process of adding improvements on or to a parcel of land.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_HeldInEscrowMember" xlink:to="arl_HeldInEscrowMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_HeldInEscrowMember_doc" xml:lang="en-US">Information by category of cash or cash equivalent items which are restricted as to withdrawal or usage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_HeldWithTrusteeMember" xlink:to="arl_HeldWithTrusteeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_HeldWithTrusteeMember_doc" xml:lang="en-US">Information by category of cash or cash equivalent items which are restricted as to withdrawal or usage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavorsFourLLCMember" xlink:to="arl_ProspectusEndeavorsFourLLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ProspectusEndeavorsFourLLCMember_doc" xml:lang="en-US">Represent information about the prospectus endeavors four llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavorsSixLLCMember" xlink:to="arl_ProspectusEndeavorsSixLLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ProspectusEndeavorsSixLLCMember_doc" xml:lang="en-US">Represent information about the prospectus endeavors six llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OulanChikhFamilyTrustMember" xlink:to="arl_OulanChikhFamilyTrustMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OulanChikhFamilyTrustMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_H198LLCMcKinneyRanchLandMember" xlink:to="arl_H198LLCMcKinneyRanchLandMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_H198LLCMcKinneyRanchLandMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ForestPinesMember" xlink:to="arl_ForestPinesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ForestPinesMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SpyglassApartmentsofEnnisLPMember" xlink:to="arl_SpyglassApartmentsofEnnisLPMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SpyglassApartmentsofEnnisLPMember_doc" xml:lang="en-US">Represents information related to spyglass apartments of ennis LP.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BellwetherRidgeMember" xlink:to="arl_BellwetherRidgeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BellwetherRidgeMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ParcatWindmillFarmsMember" xlink:to="arl_ParcatWindmillFarmsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ParcatWindmillFarmsMember_doc" xml:lang="en-US">Represents information related to parcat windmill farms.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RAIPFBL2018PurchFeeNoteWeatherfordMember" xlink:to="arl_RAIPFBL2018PurchFeeNoteWeatherfordMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RAIPFBL2018PurchFeeNoteWeatherfordMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AutumnBreezeMember" xlink:to="arl_AutumnBreezeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AutumnBreezeMember_doc" xml:lang="en-US">Represent information about the autumn breeze.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PlumTreeMember" xlink:to="arl_PlumTreeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PlumTreeMember_doc" xml:lang="en-US">Represent information about the plum tree.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InglesideMember" xlink:to="arl_InglesideMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InglesideMember_doc" xml:lang="en-US">Represent information about the ingleside.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RNCMember" xlink:to="arl_RNCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RNCMember_doc" xml:lang="en-US">Represent information about the RNC.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RevolvingLineOfCreditSteepleCrestMember" xlink:to="arl_RevolvingLineOfCreditSteepleCrestMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RevolvingLineOfCreditSteepleCrestMember_doc" xml:lang="en-US">Represent information about the revolving line of credit steeple crest.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncKensingtonParkMember" xlink:to="arl_UnifiedHousingFoundationIncKensingtonParkMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncKensingtonParkMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasMember" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillas1Member" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillas1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillas1Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanch1Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanch1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanch1Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanch2Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanch2Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanch2Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIIMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTimbersofTerrellMember" xlink:to="arl_UnifiedHousingFoundationIncTimbersofTerrellMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncTimbersofTerrellMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTivoliMember" xlink:to="arl_UnifiedHousingFoundationIncTivoliMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncTivoliMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember" xlink:to="arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc1Member" xlink:to="arl_UnifiedHousingFoundationInc1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc1Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc2Member" xlink:to="arl_UnifiedHousingFoundationInc2Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc2Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc4Member" xlink:to="arl_UnifiedHousingFoundationInc4Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc4Member_doc" xml:lang="en-US">Information by type of receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc5Member" xlink:to="arl_UnifiedHousingFoundationInc5Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc5Member_doc" xml:lang="en-US">Represents information related to unified housing foundation Inc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc6Member" xlink:to="arl_UnifiedHousingFoundationInc6Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc6Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanc42Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanc42Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanc42Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI6Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI7Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI9Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc7Member" xlink:to="arl_UnifiedHousingFoundationInc7Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc7Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc8Member" xlink:to="arl_UnifiedHousingFoundationInc8Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc8Member_doc" xml:lang="en-US">The member refer to receivable entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LoansReceivable1Member" xlink:to="arl_LoansReceivable1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LoansReceivable1Member_doc" xml:lang="en-US">An amount of money or property, or a portion thereof, leant to a borrower (debtor) in exchange for a promise to repay the amount borrowed plus interest at a date certain in the future.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherRelatedPartyNotesMember" xlink:to="arl_OtherRelatedPartyNotesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OtherRelatedPartyNotesMember_doc" xml:lang="en-US">Other related party notes (1) [Member].</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherNonRelatedPartyNotesMember" xlink:to="arl_OtherNonRelatedPartyNotesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OtherNonRelatedPartyNotesMember_doc" xml:lang="en-US">Other non-related party notes [Member].</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoanOnRealEstateFinalMaturityDateDescription" xlink:to="arl_MortgageLoanOnRealEstateFinalMaturityDateDescription_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MortgageLoanOnRealEstateFinalMaturityDateDescription_doc" xml:lang="en-US">Description of maturity date.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DescriptionOfProperty" xlink:to="arl_DescriptionOfProperty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DescriptionOfProperty_doc" xml:lang="en-US">Identifies the site (such as country, region, state, county or municipality) of the property or properties under mortgage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest" xlink:to="arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest_doc" xml:lang="en-US">Refers to description of interest rate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings" xlink:to="arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings_doc" xml:lang="en-US">Refers to description of collateral.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GruppaFlorentinaLlcMember" xlink:to="arl_GruppaFlorentinaLlcMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_GruppaFlorentinaLlcMember_doc" xml:lang="en-US">Gruppa Florentina, LLC</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MilanoMember" xlink:to="arl_MilanoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MilanoMember_doc" xml:lang="en-US">Milano Restaurants International Corporation, (&amp;amp;amp;amp;amp;#8220;Milano&amp;amp;amp;amp;amp;#8221;).</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MeNEdsPizzaParlorsMember" xlink:to="arl_MeNEdsPizzaParlorsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MeNEdsPizzaParlorsMember_doc" xml:lang="en-US">Me-N-Ed&amp;amp;amp;amp;amp;#8217;s Pizza Parlors.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PiazzaDelPaneIncMember" xlink:to="arl_PiazzaDelPaneIncMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PiazzaDelPaneIncMember_doc" xml:lang="en-US">Piazza del Pane, Inc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_Blast825PizzaMember" xlink:to="arl_Blast825PizzaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_Blast825PizzaMember_doc" xml:lang="en-US">Blast 825 Pizza.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SienaCorpMember" xlink:to="arl_SienaCorpMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SienaCorpMember_doc" xml:lang="en-US">Siena Corp.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AngeloAndVitosPizzeriasMember" xlink:to="arl_AngeloAndVitosPizzeriasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AngeloAndVitosPizzeriasMember_doc" xml:lang="en-US">Angelo &amp;amp;amp;amp;amp;amp; Vito&amp;amp;amp;amp;amp;#8217;s Pizzerias.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables6Member" xlink:to="arl_NotesPayableOtherPayables6Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableOtherPayables6Member_doc" xml:lang="en-US">A written promise to pay a note to a third party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables8Member" xlink:to="arl_NotesPayableOtherPayables8Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableOtherPayables8Member_doc" xml:lang="en-US">A written promise to pay a note to a third party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables1Member" xlink:to="arl_NotesPayableOtherPayables1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableOtherPayables1Member_doc" xml:lang="en-US">A written promise to pay a note to a third party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables2Member" xlink:to="arl_NotesPayableOtherPayables2Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableOtherPayables2Member_doc" xml:lang="en-US">A written promise to pay a note to a third party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables5Member" xlink:to="arl_NotesPayableOtherPayables5Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableOtherPayables5Member_doc" xml:lang="en-US">A written promise to pay a note to a third party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfLoansRefinancedOrModified" xlink:to="arl_NumberOfLoansRefinancedOrModified_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NumberOfLoansRefinancedOrModified_doc" xml:lang="en-US">it represent number of loans refinanced or modified.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateNetCarryingValue" xlink:to="arl_RealEstateNetCarryingValue_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateNetCarryingValue_doc" xml:lang="en-US">It represent real estae net carrying value.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebenturesMember" xlink:to="arl_NonconvertibleDebenturesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NonconvertibleDebenturesMember_doc" xml:lang="en-US">Debenture name.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebenturesMember1Member" xlink:to="arl_NonconvertibleDebenturesMember1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NonconvertibleDebenturesMember1Member_doc" xml:lang="en-US">Debenture name.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsSeriesBExpansionMember" xlink:to="arl_BondsSeriesBExpansionMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BondsSeriesBExpansionMember_doc" xml:lang="en-US">Represents information related to bonds series b expansion.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsSeriesCMember" xlink:to="arl_BondsSeriesCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BondsSeriesCMember_doc" xml:lang="en-US">Member stand for bond series for C of the entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsPayableMember" xlink:to="arl_BondsPayableMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BondsPayableMember_doc" xml:lang="en-US">Carrying value of bonds as of reporting period end date.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsPayable" xlink:to="arl_BondsPayable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BondsPayable_doc" xml:lang="en-US">It represents bonds.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TotalOutstandingBondsNet" xlink:to="arl_TotalOutstandingBondsNet_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TotalOutstandingBondsNet_doc" xml:lang="en-US">It represents bonds.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TotalOustandingBondsNetAndAccruredInterest" xlink:to="arl_TotalOustandingBondsNetAndAccruredInterest_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TotalOustandingBondsNetAndAccruredInterest_doc" xml:lang="en-US">Total oustanding bonds, net and accrured interest.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebentures1Member" xlink:to="arl_NonconvertibleDebentures1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NonconvertibleDebentures1Member_doc" xml:lang="en-US">Debenture name.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SeriesBBondsMember" xlink:to="arl_SeriesBBondsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SeriesBBondsMember_doc" xml:lang="en-US">Represents information related to Series b bonds.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebentures11Member" xlink:to="arl_NonconvertibleDebentures11Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NonconvertibleDebentures11Member_doc" xml:lang="en-US">Represent information about the nonconvertible debentures.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AffiliatedEntity1Member" xlink:to="arl_AffiliatedEntity1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AffiliatedEntity1Member_doc" xml:lang="en-US">An affiliate is a party that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FeesAndCommissions1Abstract" xlink:to="arl_FeesAndCommissions1Abstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FeesAndCommissions1Abstract_doc" xml:lang="en-US">Represnets fees and commissions abstract.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedAdvisoryFees" xlink:to="arl_DueFromRelatedAdvisoryFees_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DueFromRelatedAdvisoryFees_doc" xml:lang="en-US">It represents as a due from related advisory fees.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageBrokerageAndEquityRefinancingRelatedParty" xlink:to="arl_MortgageBrokerageAndEquityRefinancingRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MortgageBrokerageAndEquityRefinancingRelatedParty_doc" xml:lang="en-US">The amount of mortgage brokerage and equity refinancing fees with related party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedNetIncomeFee" xlink:to="arl_DueFromRelatedNetIncomeFee_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DueFromRelatedNetIncomeFee_doc" xml:lang="en-US">It represents as a due from related net income fees.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedPropertyAcquisition" xlink:to="arl_DueFromRelatedPropertyAcquisition_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DueFromRelatedPropertyAcquisition_doc" xml:lang="en-US">It represents as a due from related property acquisition.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions" xlink:to="arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions_doc" xml:lang="en-US">It represents as a due from related property construction management and leasing commissions.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateBrokerageFeesRelatedParty" xlink:to="arl_RealEstateBrokerageFeesRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateBrokerageFeesRelatedParty_doc" xml:lang="en-US">The amount of real estate brokerage fees with related party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedFeesAndCommissions" xlink:to="arl_DueFromRelatedFeesAndCommissions_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DueFromRelatedFeesAndCommissions_doc" xml:lang="en-US">It represents as a due from related fees and commissions.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedCostReimbursements" xlink:to="arl_DueFromRelatedCostReimbursements_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DueFromRelatedCostReimbursements_doc" xml:lang="en-US">Refers to due from related party payment for cost of reimbursements.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestExpenseIncomeRelatedParty" xlink:to="arl_InterestExpenseIncomeRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InterestExpenseIncomeRelatedParty_doc" xml:lang="en-US">It represents as a interest expense income related party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyOtherExpense" xlink:to="arl_RelatedPartyOtherExpense_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RelatedPartyOtherExpense_doc" xml:lang="en-US">It represents as a related party &amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp; other expences.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestIncomeRelatedPartyReceivable" xlink:to="arl_InterestIncomeRelatedPartyReceivable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InterestIncomeRelatedPartyReceivable_doc" xml:lang="en-US">Interest income related party receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesReceivablePurchasedRelatedParty" xlink:to="arl_NotesReceivablePurchasedRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesReceivablePurchasedRelatedParty_doc" xml:lang="en-US">The amount of notes receivable purchased from related parties.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyFinancingMortgagePayments" xlink:to="arl_RelatedPartyFinancingMortgagePayments_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RelatedPartyFinancingMortgagePayments_doc" xml:lang="en-US">Refers to due from related party payment for financing mortgage payments.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SalesPurchasesCommission" xlink:to="arl_SalesPurchasesCommission_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SalesPurchasesCommission_doc" xml:lang="en-US">Amount represents value of sales or and purchases commission.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncMember" xlink:to="arl_UnifiedHousingFoundationIncMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncMember_doc" xml:lang="en-US">Unified Housing Foundation, Inc. (1) [Member].</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NotesPayableOtherPayables4Member" xlink:to="arl_NotesPayableOtherPayables4Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NotesPayableOtherPayables4Member_doc" xml:lang="en-US">It represent note payable and other payable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DueFromRelatedPropertyRentalRevenue" xlink:to="arl_DueFromRelatedPropertyRentalRevenue_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DueFromRelatedPropertyRentalRevenue_doc" xml:lang="en-US">It represents as a due from related property rental revenue.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestIncomeRecognizedRelatedParty" xlink:to="arl_InterestIncomeRecognizedRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InterestIncomeRecognizedRelatedParty_doc" xml:lang="en-US">It represents as a interest income recognized related party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestIncomeOriginatedRelatedParty" xlink:to="arl_InterestIncomeOriginatedRelatedParty_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InterestIncomeOriginatedRelatedParty_doc" xml:lang="en-US">It represents as a interest income originated related party.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfPreferredStockConverted" xlink:to="arl_NumberOfPreferredStockConverted_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NumberOfPreferredStockConverted_doc" xml:lang="en-US">Number of preferred stock converted during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RAIMember" xlink:to="arl_RAIMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RAIMember_doc" xml:lang="en-US">Represents RAI Member.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_StockTransferAgreementMember" xlink:to="arl_StockTransferAgreementMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_StockTransferAgreementMember_doc" xml:lang="en-US">The member represent stock transfer agreement.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealtyAdvisorsIncMember" xlink:to="arl_RealtyAdvisorsIncMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealtyAdvisorsIncMember_doc" xml:lang="en-US">It represent entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TranscontinentialRealtyInvestorsMember" xlink:to="arl_TranscontinentialRealtyInvestorsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TranscontinentialRealtyInvestorsMember_doc" xml:lang="en-US">Name of investment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DividendsPayableAmountQuartelyPerShare" xlink:to="arl_DividendsPayableAmountQuartelyPerShare_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DividendsPayableAmountQuartelyPerShare_doc" xml:lang="en-US">The per share value of dividends payable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PercentageOfAverageDailyClosingPriceOfCommonStock" xlink:to="arl_PercentageOfAverageDailyClosingPriceOfCommonStock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PercentageOfAverageDailyClosingPriceOfCommonStock_doc" xml:lang="en-US">The percentage of the average daily closing price of common stock computed upon conversion of convertible preferred stock.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NumberOfTradingDays" xlink:to="arl_NumberOfTradingDays_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NumberOfTradingDays_doc" xml:lang="en-US">Number of trading days in computing common stock price upon conversion od convertible preferred stock.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BusinessCombinationConsiderationTransferredEquity" xlink:to="arl_BusinessCombinationConsiderationTransferredEquity_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BusinessCombinationConsiderationTransferredEquity_doc" xml:lang="en-US">It represent entity.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PurchaseOfAccruedUnpaidDividends" xlink:to="arl_PurchaseOfAccruedUnpaidDividends_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PurchaseOfAccruedUnpaidDividends_doc" xml:lang="en-US">The amount of unpaid dividends purchased with preferred stock.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DeferredGains" xlink:to="arl_DeferredGains_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DeferredGains_doc" xml:lang="en-US">Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deferred gains.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherBasisTimingDifferences" xlink:to="arl_OtherBasisTimingDifferences_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OtherBasisTimingDifferences_doc" xml:lang="en-US">Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other basis timing differences.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UseGenerationOfNetOperatingLossCarryforwards" xlink:to="arl_UseGenerationOfNetOperatingLossCarryforwards_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UseGenerationOfNetOperatingLossCarryforwards_doc" xml:lang="en-US">Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to operating loss carry forwards.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CommercialSegmentsMember" xlink:to="arl_CommercialSegmentsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_CommercialSegmentsMember_doc" xml:lang="en-US">Commercial Segments [Member].</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentsSegmentsMember" xlink:to="arl_ApartmentsSegmentsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ApartmentsSegmentsMember_doc" xml:lang="en-US">Apartments Segments [Member].</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandSegmentsMember" xlink:to="arl_LandSegmentsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LandSegmentsMember_doc" xml:lang="en-US">Land Segments [Member].</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherMember" xlink:to="arl_OtherMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OtherMember_doc" xml:lang="en-US">It represents other.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageAndLoanInterestIncludingCharges" xlink:to="arl_MortgageAndLoanInterestIncludingCharges_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MortgageAndLoanInterestIncludingCharges_doc" xml:lang="en-US">Amount of the cost of borrowed funds accounted for as interest expense for debt including loan charges and prepayment penalities.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateSalesPrice" xlink:to="arl_RealEstateSalesPrice_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateSalesPrice_doc" xml:lang="en-US">The selling of price of real estate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateCostOfSales" xlink:to="arl_RealEstateCostOfSales_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateCostOfSales_doc" xml:lang="en-US">The cost of sales of real estate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_IndividualShareholderMember" xlink:to="arl_IndividualShareholderMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_IndividualShareholderMember_doc" xml:lang="en-US">It represents individual.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BasicEntityMember" xlink:to="arl_BasicEntityMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BasicEntityMember_doc" xml:lang="en-US">Information pertaining to Basical Capital Management Inc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInvestee4Member" xlink:to="arl_EquityMethodInvestee4Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_EquityMethodInvestee4Member_doc" xml:lang="en-US">Name of investment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ClapperPartiesMember" xlink:to="arl_ClapperPartiesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ClapperPartiesMember_doc" xml:lang="en-US">Judicial proceeding, alternative dispute resolution or claim. For example, but not limited to, name of case, category of litigation, or other differentiating information.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FinancialGuarantee1Member" xlink:to="arl_FinancialGuarantee1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FinancialGuarantee1Member_doc" xml:lang="en-US">An agreement (contract) that requires the guarantor to make payments to the guaranteed party based on another entity's failure to pay specified obligations, such as debt, to a lender.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LossContingencyActualDamagesSoughtValue" xlink:to="arl_LossContingencyActualDamagesSoughtValue_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LossContingencyActualDamagesSoughtValue_doc" xml:lang="en-US">The actual value (monetary amount) of the award the plaintiff seeks in the legal matter.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LossContingencyDamagesSoughtInterestValue" xlink:to="arl_LossContingencyDamagesSoughtInterestValue_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LossContingencyDamagesSoughtInterestValue_doc" xml:lang="en-US">The interest value (monetary amount) of the award the plaintiff seeks in the legal matter.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnfundedLoanCommitment" xlink:to="arl_UnfundedLoanCommitment_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnfundedLoanCommitment_doc" xml:lang="en-US">The contractual amount of off-balance sheet lending-related financial instruments (e.g., commitments and guarantees), which represents the maximum possible credit risk should the counterparty draw upon the commitment or the entity be required to fulfill its obligation under the guarantee, and the counterparty subsequently fail to perform according to the terms of the contract.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DamagesPrejudgementInterest" xlink:to="arl_DamagesPrejudgementInterest_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DamagesPrejudgementInterest_doc" xml:lang="en-US">Amount of pre-judgment interest awarded to the plaintiff in the legal matter.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DamagesTotal" xlink:to="arl_DamagesTotal_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DamagesTotal_doc" xml:lang="en-US">Amount of damages awarded to the plaintiff in the legal matter, including interest.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AwardedAttorneyFees" xlink:to="arl_AwardedAttorneyFees_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AwardedAttorneyFees_doc" xml:lang="en-US">Amount of attorneys' fees awarded to the plaintiff in the legal matter.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MinorityStockholders" xlink:to="arl_MinorityStockholders_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MinorityStockholders_doc" xml:lang="en-US">It represents minority stockholders.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SharesHeldBySubsidiaries" xlink:to="arl_SharesHeldBySubsidiaries_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SharesHeldBySubsidiaries_doc" xml:lang="en-US">The number of shares held by subidiaries.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AccumulatedDividendsUnpaidUponConversion" xlink:to="arl_AccumulatedDividendsUnpaidUponConversion_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AccumulatedDividendsUnpaidUponConversion_doc" xml:lang="en-US">Refers to accumulated dividend unpaid upon conversion.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis" xlink:to="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis_doc" xml:lang="en-US">The description of a mortgage loan or group of similar mortgage loans, which may include number of loans by original loan amounts and type of loan (for example, VA, FHA, Conventional).</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PropertiesHeldforInvestmentCorporateDebtMember" xlink:to="arl_PropertiesHeldforInvestmentCorporateDebtMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PropertiesHeldforInvestmentCorporateDebtMember_doc" xml:lang="en-US">Information by type of real estate property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PropertiesHeldforInvestmentApartmentsMember" xlink:to="arl_PropertiesHeldforInvestmentApartmentsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PropertiesHeldforInvestmentApartmentsMember_doc" xml:lang="en-US">Information by type of real estate property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LegacyatPleasantGroveTexarkanaTXMember" xlink:to="arl_LegacyatPleasantGroveTexarkanaTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LegacyatPleasantGroveTexarkanaTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ToulonGautierMSMember" xlink:to="arl_ToulonGautierMSMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ToulonGautierMSMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VillagerFt.WaltonFLMember" xlink:to="arl_VillagerFt.WaltonFLMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_VillagerFt.WaltonFLMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VillasAtBonSecourGulfShoresMember" xlink:to="arl_VillasAtBonSecourGulfShoresMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_VillasAtBonSecourGulfShoresMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VistaRidgeTupeloMSMember" xlink:to="arl_VistaRidgeTupeloMSMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_VistaRidgeTupeloMSMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ChelseaBeaumontMember" xlink:to="arl_ChelseaBeaumontMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ChelseaBeaumontMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentsUnderConstructionMember" xlink:to="arl_ApartmentsUnderConstructionMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ApartmentsUnderConstructionMember_doc" xml:lang="en-US">Information by type of real estate property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OverlookAtAllensvilleSquareIISeviervilleTNMember" xlink:to="arl_OverlookAtAllensvilleSquareIISeviervilleTNMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OverlookAtAllensvilleSquareIISeviervilleTNMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandingHoumaMember" xlink:to="arl_LandingHoumaMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LandingHoumaMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FarnhamParkPortAurtherMember" xlink:to="arl_FarnhamParkPortAurtherMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FarnhamParkPortAurtherMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember" xlink:to="arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember_doc" xml:lang="en-US">The member represent parc at denham springs phase ii denham springs.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SugarMillIIMember" xlink:to="arl_SugarMillIIMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SugarMillIIMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_McKinneyAptsAtHeritageMcKinneyMember" xlink:to="arl_McKinneyAptsAtHeritageMcKinneyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_McKinneyAptsAtHeritageMcKinneyMember_doc" xml:lang="en-US">The member represent mckinney apts at heritage mckinney.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ForestPinesPhaseIIForestGroveBryanMember" xlink:to="arl_ForestPinesPhaseIIForestGroveBryanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ForestPinesPhaseIIForestGroveBryanMember_doc" xml:lang="en-US">The member represent forest pines phase ii forest grove bryan.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LDAthensLindsayLnAthensMember" xlink:to="arl_LDAthensLindsayLnAthensMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LDAthensLindsayLnAthensMember_doc" xml:lang="en-US">The member represent ldathens lindsay lnathens.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_CommercialHeldforInvestmentMember" xlink:to="arl_CommercialHeldforInvestmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_CommercialHeldforInvestmentMember_doc" xml:lang="en-US">Information by type of real estate property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LasColinasLasColinasTXMember" xlink:to="arl_LasColinasLasColinasTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LasColinasLasColinasTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SouthPostOakHoustonTXMember" xlink:to="arl_SouthPostOakHoustonTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SouthPostOakHoustonTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BridgeviewPlazaLaCrosseWIMember" xlink:to="arl_BridgeviewPlazaLaCrosseWIMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BridgeviewPlazaLaCrosseWIMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BrowningPlaceParkWestIFarmersBranchTXMember" xlink:to="arl_BrowningPlaceParkWestIFarmersBranchTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BrowningPlaceParkWestIFarmersBranchTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_FruitlandPlazaFruitlandParkFLMember" xlink:to="arl_FruitlandPlazaFruitlandParkFLMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_FruitlandPlazaFruitlandParkFLMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SenlacVHPFarmersBranchTXMember" xlink:to="arl_SenlacVHPFarmersBranchTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SenlacVHPFarmersBranchTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_StanfordCenterDallasTXMember" xlink:to="arl_StanfordCenterDallasTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_StanfordCenterDallasTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandHeldforInvestmentMember" xlink:to="arl_LandHeldforInvestmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LandHeldforInvestmentMember_doc" xml:lang="en-US">Information by type of real estate property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DedeauxGulfportMSMember" xlink:to="arl_DedeauxGulfportMSMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DedeauxGulfportMSMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_GautierLandGautierMSMember" xlink:to="arl_GautierLandGautierMSMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_GautierLandGautierMSMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LakeShoreVillasHumbleTXMember" xlink:to="arl_LakeShoreVillasHumbleTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LakeShoreVillasHumbleTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LubbockLandLubbockTXMember" xlink:to="arl_LubbockLandLubbockTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LubbockLandLubbockTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OceanEstatesGulfportMSMember" xlink:to="arl_OceanEstatesGulfportMSMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OceanEstatesGulfportMSMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnionPacificRailroadLandDallasTXMember" xlink:to="arl_UnionPacificRailroadLandDallasTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnionPacificRailroadLandDallasTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_WillowickLandPensacolaFLMember" xlink:to="arl_WillowickLandPensacolaFLMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_WillowickLandPensacolaFLMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_WindmillFarmsLandKaufmanCountyTXMember" xlink:to="arl_WindmillFarmsLandKaufmanCountyTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_WindmillFarmsLandKaufmanCountyTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TPalmDesertRiversideMember" xlink:to="arl_TPalmDesertRiversideMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TPalmDesertRiversideMember_doc" xml:lang="en-US">The member represent t palm desert riverside.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LacyLonghornLandFarmersBranchTXMember" xlink:to="arl_LacyLonghornLandFarmersBranchTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LacyLonghornLandFarmersBranchTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MinivestLandDallasTXMember" xlink:to="arl_MinivestLandDallasTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MinivestLandDallasTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonCroslinDallasTXMember" xlink:to="arl_NicholsonCroslinDallasTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NicholsonCroslinDallasTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonMendozaDallasTXMember" xlink:to="arl_NicholsonMendozaDallasTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NicholsonMendozaDallasTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MercerCrossingFarmersBranchMember" xlink:to="arl_MercerCrossingFarmersBranchMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MercerCrossingFarmersBranchMember_doc" xml:lang="en-US">The member represent mercer crossing farmers branch.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_McKinney36CollinCountyTXMember" xlink:to="arl_McKinney36CollinCountyTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_McKinney36CollinCountyTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TravisRanchLandKaufmanCountyTXMember" xlink:to="arl_TravisRanchLandKaufmanCountyTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_TravisRanchLandKaufmanCountyTXMember_doc" xml:lang="en-US">Information by name of property.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges" xlink:to="arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges_doc" xml:lang="en-US">It represents s a real estate and accumulated depreciation asset impairment charges.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2" xlink:to="arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2_doc" xml:lang="en-US">It represents as a real estate and accumulated depreciation date of construction.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealEstateAndAccumulatedDepreciationDateAcquired" xlink:to="arl_RealEstateAndAccumulatedDepreciationDateAcquired_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealEstateAndAccumulatedDepreciationDateAcquired_doc" xml:lang="en-US">It represents as a real estate and accumulated depreciation date acquired.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OneRealcoCorporationMember" xlink:to="arl_OneRealcoCorporationMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_OneRealcoCorporationMember_doc" xml:lang="en-US">The member represent one realco corporation.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RealtyAdvisorsManagementIncMember" xlink:to="arl_RealtyAdvisorsManagementIncMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RealtyAdvisorsManagementIncMember_doc" xml:lang="en-US">The member represent realty advisors management inc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember" xlink:to="arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember_doc" xml:lang="en-US">The member represent unified housing foundation inc terraces of marine creek blue lake at marine creek.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncWalnutParkCrossingMember" xlink:to="arl_UnifiedHousingFoundationIncWalnutParkCrossingMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncWalnutParkCrossingMember_doc" xml:lang="en-US">The member represent unified housing foundation inc walnut park crossing.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member_doc" xml:lang="en-US">The member represent unified housing foundation inc lakeshore villas hfs of humble llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember" xlink:to="arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember_doc" xml:lang="en-US">The member represent unified housing foundation inc in wood on the park uh of inwood llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember" xlink:to="arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember_doc" xml:lang="en-US">The member represent unified housing foundation inc kensington park uh of kensington llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavors4LLCMember" xlink:to="arl_ProspectusEndeavors4LLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ProspectusEndeavors4LLCMember_doc" xml:lang="en-US">The member represent prospectus endeavors llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavors6LLCMember" xlink:to="arl_ProspectusEndeavors6LLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ProspectusEndeavors6LLCMember_doc" xml:lang="en-US">The member represent prospectus endeavors llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_H198LLCMember" xlink:to="arl_H198LLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_H198LLCMember_doc" xml:lang="en-US">The member represent h198 llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncEchoStationMember" xlink:to="arl_UnifiedHousingFoundationIncEchoStationMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncEchoStationMember_doc" xml:lang="en-US">The member represent unified housing foundation inc echo station.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember_doc" xml:lang="en-US">The member represent unified housing foundation inc lakeshore villas hfs of humble llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member_doc" xml:lang="en-US">The member represent unified housing foundation inc lakeshore villas hfs of humble llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember_doc" xml:lang="en-US">The member represent unified housing foundation inc limestone ranch uh of vista ridge llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member_doc" xml:lang="en-US">The member represent unified housing foundation inc limestone ranch uh of vista ridge llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member_doc" xml:lang="en-US">The member represent unified housing foundation inc limestone ranch uh of vista ridge llc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember" xlink:to="arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember_doc" xml:lang="en-US">The member represent unified housing foundation inc 2015 advisory fee.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember" xlink:to="arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember_doc" xml:lang="en-US">The member represent unified housing foundation inc 2008 2014 advisory fee.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember" xlink:to="arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember_doc" xml:lang="en-US">The member represent unified housing foundation inc 2018 advisory fee.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationInc3Member" xlink:to="arl_UnifiedHousingFoundationInc3Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_UnifiedHousingFoundationInc3Member_doc" xml:lang="en-US">The member represent unified housing foundation inc.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VariousRelatedPartyNotesMember" xlink:to="arl_VariousRelatedPartyNotesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_VariousRelatedPartyNotesMember_doc" xml:lang="en-US">The member represent various related party notes.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_VariousNonRelatedPartyNotesMember" xlink:to="arl_VariousNonRelatedPartyNotesMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_VariousNonRelatedPartyNotesMember_doc" xml:lang="en-US">The member represent various non related party notes.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstateSecurity" xlink:to="arl_MortgageLoansOnRealEstateSecurity_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MortgageLoansOnRealEstateSecurity_doc" xml:lang="en-US">Description of the underlying security of the loan receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow" xlink:to="arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow_doc" xml:lang="en-US">The percentage of cash flow due as payment based upon the contractual payment terms of the loan receivable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageLoanOnRealEstateFinalMaturityDate1" xlink:to="arl_MortgageLoanOnRealEstateFinalMaturityDate1_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_MortgageLoanOnRealEstateFinalMaturityDate1_doc" xml:lang="en-US">It represents as a mortgage loan on real estate final maturity date.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DominionTractFarmersBranchTXMember" xlink:to="arl_DominionTractFarmersBranchTXMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DominionTractFarmersBranchTXMember_doc" xml:lang="en-US">The member represent dominion tract farmers branch tx.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RecognizedPriorDeferredGain" xlink:to="arl_RecognizedPriorDeferredGain_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RecognizedPriorDeferredGain_doc" xml:lang="en-US">Represents information related to recognized prior deferred gain.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InvestmentInVaaDisclosureTextBlock" xlink:to="arl_InvestmentInVaaDisclosureTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InvestmentInVaaDisclosureTextBlock_doc" xml:lang="en-US">Disclosure of investment in VAA.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_BondsAndBondsInterestPayableDisclosureTextBlock" xlink:to="arl_BondsAndBondsInterestPayableDisclosureTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_BondsAndBondsInterestPayableDisclosureTextBlock_doc" xml:lang="en-US">Disclosure of bonds and bonds interest payable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DividendsTextBlock" xlink:to="arl_DividendsTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DividendsTextBlock_doc" xml:lang="en-US">The entire disclosure on interest recognition on notes receivable and related activities.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartiesPolicyTextBlock" xlink:to="arl_RelatedPartiesPolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_RelatedPartiesPolicyTextBlock_doc" xml:lang="en-US">Disclosure of policies regarding related parties.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_InterestRecognitionOnNotesReceivablePolicyTextBlock" xlink:to="arl_InterestRecognitionOnNotesReceivablePolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_InterestRecognitionOnNotesReceivablePolicyTextBlock_doc" xml:lang="en-US">The entire disclosure on interest recognition on notes receivable and related activities.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock" xlink:to="arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock_doc" xml:lang="en-US">Tabular disclosure of locations of properties owned by joint venture.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock" xlink:to="arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ScheduleOfApartmentProjectsInDevelopmentTableTextBlock_doc" xml:lang="en-US">Tabular disclosure of apartment projects in development.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock" xlink:to="arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock_doc" xml:lang="en-US">Tabular disclosure of financial statements, including, but not limited to, the balance sheet and income statement of unconsolidated parent.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ScheduleOfRelatedPartyTransactions1TableTextBlock" xlink:to="arl_ScheduleOfRelatedPartyTransactions1TableTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ScheduleOfRelatedPartyTransactions1TableTextBlock_doc" xml:lang="en-US">Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary" xlink:to="arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary_doc" xml:lang="en-US">Acquisition of Series A preferred stock by consolidated subsidiary.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_IncomeLossFromJointVenture" xlink:to="arl_IncomeLossFromJointVenture_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_IncomeLossFromJointVenture_doc" xml:lang="en-US">Amount of income (loss) from joint venture.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DominionTractFarmersBranchTXAdjustmentMember" xlink:to="arl_DominionTractFarmersBranchTXAdjustmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_DominionTractFarmersBranchTXAdjustmentMember_doc" xml:lang="en-US">Dominion Tract, Farmers Branch [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember" xlink:to="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember_doc" xml:lang="en-US">Windmill Farms Land, Kaufman County [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember" xlink:to="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember_doc" xml:lang="en-US">Lacy Longhorn Land, Farmers Branch [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonCroslinDallasTXAdjustmentMember" xlink:to="arl_NicholsonCroslinDallasTXAdjustmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NicholsonCroslinDallasTXAdjustmentMember_doc" xml:lang="en-US">Nicholson Croslin, Dallas [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonMendozaDallasTXAdjustmentMember" xlink:to="arl_NicholsonMendozaDallasTXAdjustmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_NicholsonMendozaDallasTXAdjustmentMember_doc" xml:lang="en-US">Nicholson Mendoza, Dallas [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandHeldforInvestmentAdjustmentMember" xlink:to="arl_LandHeldforInvestmentAdjustmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_LandHeldforInvestmentAdjustmentMember_doc" xml:lang="en-US">Land Held for Investment [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary" xlink:to="arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary_doc" xml:lang="en-US">Payments to acquire preferred stock by consolidated subsidiary.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_PrincipalRepaymentsRelatedPartyDebt" xlink:to="arl_PrincipalRepaymentsRelatedPartyDebt_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_PrincipalRepaymentsRelatedPartyDebt_doc" xml:lang="en-US">Principal repayments related party debt.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SouthernPropertiesCapitalLtdMember" xlink:to="arl_SouthernPropertiesCapitalLtdMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SouthernPropertiesCapitalLtdMember_doc" xml:lang="en-US">Southern Properties Capital Ltd [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_AnnualPaymentPercentage" xlink:to="arl_AnnualPaymentPercentage_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_AnnualPaymentPercentage_doc" xml:lang="en-US">Annual payment percentage of value of investment properties for a related party transaction.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_SeriesKConvertiblePreferredStockMember" xlink:to="arl_SeriesKConvertiblePreferredStockMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_SeriesKConvertiblePreferredStockMember_doc" xml:lang="en-US">Series K Convertible Preferred Stock [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ManagementFee" xlink:to="arl_ManagementFee_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="arl_ManagementFee_doc" xml:lang="en-US">Management fee.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanch2Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanch2Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanch2Member_3_lbl" xml:lang="en-US">DisposalGroupIncludingDiscontinuedOperationLitigationSettlementExpense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember_3_lbl" xml:lang="en-US">UnifiedHousingFoundationIncReserveatWhiteRockPhaseIMember</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI2Member_3_lbl" xml:lang="en-US">RecurringPaymentOfPrincipalOnNotesPayable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member_3_lbl" xml:lang="en-US">UnifiedHousingFoundationIncReserveatWhiteRockPhaseI3Member</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLimestoneRanc42Member" xlink:to="arl_UnifiedHousingFoundationIncLimestoneRanc42Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLimestoneRanc42Member_3_lbl" xml:lang="en-US">Shares held by subsidiaries (in shares)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member_3_lbl" xml:lang="en-US">UnifiedHousingFoundationIncReserveatWhiteRockPhaseI5Member</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member" xlink:to="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncReserveatWhiteRockPhaseI8Member_3_lbl" xml:lang="en-US">Bonds And Bonds Interest Payable [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NonconvertibleDebentures1Member" xlink:to="arl_NonconvertibleDebentures1Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NonconvertibleDebentures1Member_3_lbl" xml:lang="en-US">Nonconvertible Series B Bonds [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentsSegmentsMember" xlink:to="arl_ApartmentsSegmentsMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ApartmentsSegmentsMember_3_lbl" xml:lang="en-US">Related Party [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandSegmentsMember" xlink:to="arl_LandSegmentsMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LandSegmentsMember_3_lbl" xml:lang="en-US">LandSegmentsMember</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ApartmentsUnderConstructionMember" xlink:to="arl_ApartmentsUnderConstructionMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ApartmentsUnderConstructionMember_3_lbl" xml:lang="en-US">ApartmentsUnderConstructionMember</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="stpr_LA" xlink:to="stpr_LA_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="stpr_LA_2_lbl" xml:lang="en-US">LOUISIANA [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember" xlink:to="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember_3_lbl" xml:lang="en-US">Windmill Farms Land, Kaufman County [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember" xlink:to="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LacyLonghornLandFarmersBranchTXAdjustmentMember_3_lbl" xml:lang="en-US">Lacy Longhorn Land, Farmers Branch [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonCroslinDallasTXAdjustmentMember" xlink:to="arl_NicholsonCroslinDallasTXAdjustmentMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NicholsonCroslinDallasTXAdjustmentMember_3_lbl" xml:lang="en-US">Nicholson Croslin, Dallas [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_NicholsonMendozaDallasTXAdjustmentMember" xlink:to="arl_NicholsonMendozaDallasTXAdjustmentMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_NicholsonMendozaDallasTXAdjustmentMember_3_lbl" xml:lang="en-US">Nicholson Mendoza, Dallas [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_LandHeldforInvestmentAdjustmentMember" xlink:to="arl_LandHeldforInvestmentAdjustmentMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_LandHeldforInvestmentAdjustmentMember_3_lbl" xml:lang="en-US">Land Held for Investment [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavors4LLCMember" xlink:to="arl_ProspectusEndeavors4LLCMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ProspectusEndeavors4LLCMember_3_lbl" xml:lang="en-US">ProspectusEndeavors4LLCMember</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_ProspectusEndeavors6LLCMember" xlink:to="arl_ProspectusEndeavors6LLCMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_ProspectusEndeavors6LLCMember_3_lbl" xml:lang="en-US">ProspectusEndeavors6LLCMember</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncEchoStationMember" xlink:to="arl_UnifiedHousingFoundationIncEchoStationMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncEchoStationMember_3_lbl" xml:lang="en-US">UnifiedHousingFoundationIncEchoStationMember</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember_3_lbl" xml:lang="en-US">UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member" xlink:to="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member_3_lbl" xml:lang="en-US">UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_2_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_2_lbl" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_2_lbl" xml:lang="en-US">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="us-gaap_DebtLongtermAndShorttermCombinedAmount_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount_2_lbl" xml:lang="en-US">Debt, Long-term and Short-term, Combined Amount</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilities" xlink:to="us-gaap_OtherLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilities_2_lbl" xml:lang="en-US">Other Liabilities</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInvestmentTotalOtherExpense" xlink:to="arl_EquityMethodInvestmentTotalOtherExpense_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_EquityMethodInvestmentTotalOtherExpense_3_lbl" xml:lang="en-US">Other non-segment items of income (expense) [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodInterestExpenseOnMezzanineLoan" xlink:to="arl_EquityMethodInterestExpenseOnMezzanineLoan_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_EquityMethodInterestExpenseOnMezzanineLoan_3_lbl" xml:lang="en-US">Related Party [Member] [Default Label] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodDepreciationBasisDifferences" xlink:to="arl_EquityMethodDepreciationBasisDifferences_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_EquityMethodDepreciationBasisDifferences_3_lbl" xml:lang="en-US">Commercial Properties [Member] [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_EquityMethodAdjustedNetIncome" xlink:to="arl_EquityMethodAdjustedNetIncome_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_EquityMethodAdjustedNetIncome_3_lbl" xml:lang="en-US">Description of Security [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RealEstateInvestmentPropertyAtCost" xlink:to="us-gaap_RealEstateInvestmentPropertyAtCost_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestmentPropertyAtCost_2_lbl" xml:lang="en-US">Real Estate Investment Property, at Cost</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RealEstateInvestments_2_lbl" xml:lang="en-US">Real Estate Investments, Net</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfLandHeldforinvestment" xlink:to="us-gaap_ProceedsFromSaleOfLandHeldforinvestment_2_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_2_lbl" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCarryingAmount_2_lbl" xml:lang="en-US">Long-term Debt, Gross</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDateDescription" xlink:to="us-gaap_DebtInstrumentMaturityDateDescription_2_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TotalOutstandingBondsNet_3_lbl" xml:lang="en-US">TotalOutstandingBondsNet</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_TotalOustandingBondsNetAndAccruredInterest" xlink:to="arl_TotalOustandingBondsNetAndAccruredInterest_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_TotalOustandingBondsNetAndAccruredInterest_3_lbl" xml:lang="en-US">TotalOustandingBondsNetAndAccruredInterest</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_2_lbl" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyOtherExpense" xlink:to="arl_RelatedPartyOtherExpense_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RelatedPartyOtherExpense_3_lbl" xml:lang="en-US">RelatedPartyOtherExpense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesCommissionsAndFees" xlink:to="us-gaap_SalesCommissionsAndFees_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesCommissionsAndFees_2_lbl" xml:lang="en-US">Sales Commissions and Fees</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_RelatedPartyFinancingMortgagePayments" xlink:to="arl_RelatedPartyFinancingMortgagePayments_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RelatedPartyFinancingMortgagePayments_3_lbl" xml:lang="en-US">Capital expenditures [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:to="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_3_lbl" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Collections of Principal</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFederalIncomeTaxExpenseBenefit_2_lbl" xml:lang="en-US">Deferred Federal Income Tax Expense (Benefit)</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_2_lbl" xml:lang="en-US">Deferred State and Local Income Tax Expense (Benefit)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation" xlink:to="us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation_2_lbl" xml:lang="en-US">Income Tax Expense (Benefit), Intraperiod Tax Allocation</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_DeferredGains" xlink:to="arl_DeferredGains_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_DeferredGains_3_lbl" xml:lang="en-US">Property acquisition [Default Label]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_OtherBasisTimingDifferences" xlink:to="arl_OtherBasisTimingDifferences_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_OtherBasisTimingDifferences_3_lbl" xml:lang="en-US">OtherBasisTimingDifferences</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_UseGenerationOfNetOperatingLossCarryforwards" xlink:to="arl_UseGenerationOfNetOperatingLossCarryforwards_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_UseGenerationOfNetOperatingLossCarryforwards_3_lbl" xml:lang="en-US">UseGenerationOfNetOperatingLossCarryforwards</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsGross_2_lbl" xml:lang="en-US">Deferred Tax Assets, Gross</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_DeferredTaxAssetsValuationAllowance_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_2_lbl" xml:lang="en-US">Deferred Tax Assets, Valuation Allowance</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:to="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_2_lbl" xml:lang="en-US">Deferred Tax Liabilities, Property, Plant and Equipment</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilities" xlink:to="us-gaap_DeferredIncomeTaxLiabilities_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxLiabilities_3_lbl" xml:lang="en-US">Deferred Tax Liabilities, Gross</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="us-gaap_DeferredTaxAssetsLiabilitiesNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet_2_lbl" xml:lang="en-US">Deferred Tax Assets, Net</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_2_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_2_lbl" xml:lang="en-US">Lessor, Operating Lease, Payments to be Received, Two Years</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_2_lbl" xml:lang="en-US">Lessor, Operating Lease, Payments to be Received, Three Years</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_2_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_2_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:to="us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_2_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="arl_MortgageAndLoanInterestIncludingCharges" xlink:to="arl_MortgageAndLoanInterestIncludingCharges_3_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeOther" xlink:to="us-gaap_InterestIncomeOther_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestIncomeOther_2_lbl" xml:lang="en-US">Interest Income, Other</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="arl_RealEstateCostOfSales_3_lbl" xml:lang="en-US">Preferred stock held by subsidiary</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
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"   !

end
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<head>
<title></title>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6820869520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues (including $841, $144 and $839 for the year ended 2019, 2018 and 2017, respectively, from related parties)</a></td>
<td class="nump">$ 47,970<span></span>
</td>
<td class="nump">$ 120,956<span></span>
</td>
<td class="nump">$ 126,221<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses (including $991, $254 and $959 for the year ended 2019, 2018 and 2017, respectively, from related parties)</a></td>
<td class="nump">25,694<span></span>
</td>
<td class="nump">59,587<span></span>
</td>
<td class="nump">64,091<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">13,379<span></span>
</td>
<td class="nump">22,670<span></span>
</td>
<td class="nump">25,679<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative (including $4,429, $1,267and $3,225 for the year ended 2019, 2018 and 2017, respectively, from related parties)</a></td>
<td class="nump">13,336<span></span>
</td>
<td class="nump">12,708<span></span>
</td>
<td class="nump">7,691<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NetIncomeFeeToRelatedParty1', window );">Net income fee to related party</a></td>
<td class="nump">357<span></span>
</td>
<td class="nump">631<span></span>
</td>
<td class="nump">250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AdvisoryFeeToRelatedParty', window );">Advisory fee to related party</a></td>
<td class="nump">6,612<span></span>
</td>
<td class="nump">11,475<span></span>
</td>
<td class="nump">11,082<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
<td class="nump">59,378<span></span>
</td>
<td class="nump">107,071<span></span>
</td>
<td class="nump">108,793<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Net operating (loss) income</a></td>
<td class="num">(11,408)<span></span>
</td>
<td class="nump">13,885<span></span>
</td>
<td class="nump">17,428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other income (expenses):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income (including $23,760, $5,406 and $16,298 for the year ended 2019, 2018 and 2017, respectively, from related parties)</a></td>
<td class="nump">25,955<span></span>
</td>
<td class="nump">21,645<span></span>
</td>
<td class="nump">18,941<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other income</a></td>
<td class="nump">11,018<span></span>
</td>
<td class="nump">28,993<span></span>
</td>
<td class="nump">4,082<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Mortgage and loan interest (including $9,282, $2,240 and $6,695 for the year ended 2019, 2018 and 2017, respectively, from related parties)</a></td>
<td class="num">(39,860)<span></span>
</td>
<td class="num">(66,063)<span></span>
</td>
<td class="num">(66,171)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossOnSaleOfInvestments', window );">Loss on the sale of investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(331)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency transaction gain (loss)</a></td>
<td class="num">(15,108)<span></span>
</td>
<td class="nump">12,399<span></span>
</td>
<td class="num">(4,536)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
<td class="num">(5,219)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_IncomeLossFromJointVenture', window );">Equity (loss) earnings from VAA</a></td>
<td class="num">(2,774)<span></span>
</td>
<td class="nump">44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Earnings from unconsolidated subsidiaries and investees</a></td>
<td class="nump">461<span></span>
</td>
<td class="nump">1,469<span></span>
</td>
<td class="nump">309<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Total other (expenses)</a></td>
<td class="num">(25,527)<span></span>
</td>
<td class="num">(1,513)<span></span>
</td>
<td class="num">(47,706)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">(Loss) income before gain on land sales, non-controlling interest, and taxes</a></td>
<td class="num">(36,935)<span></span>
</td>
<td class="nump">12,372<span></span>
</td>
<td class="num">(30,278)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDispositionOfAssets1', window );">Gain on disposition of 50% interestt in VAA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">154,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate', window );">Gain on sale of income-producing properties</a></td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,698<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on land sales</a></td>
<td class="nump">15,272<span></span>
</td>
<td class="nump">17,404<span></span>
</td>
<td class="nump">4,884<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic', window );">Net (loss) income from continuing operations before taxes</a></td>
<td class="num">(21,743)<span></span>
</td>
<td class="nump">183,902<span></span>
</td>
<td class="num">(8,696)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(1,210)<span></span>
</td>
<td class="num">(180)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest', window );">Net (loss) income from continuing operations</a></td>
<td class="num">(21,743)<span></span>
</td>
<td class="nump">182,692<span></span>
</td>
<td class="num">(8,876)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="num">(21,743)<span></span>
</td>
<td class="nump">182,692<span></span>
</td>
<td class="num">(8,876)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net loss (income) attributable to non-controlling interest</a></td>
<td class="nump">5,785<span></span>
</td>
<td class="num">(8,993)<span></span>
</td>
<td class="nump">445<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net (loss) income attributable to American Realty Investors, Inc.</a></td>
<td class="num">(15,958)<span></span>
</td>
<td class="nump">173,699<span></span>
</td>
<td class="num">(8,431)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsAndOtherAdjustments', window );">Preferred dividend requirement</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(901)<span></span>
</td>
<td class="num">(1,105)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net (loss) income applicable to common shares</a></td>
<td class="num">$ (15,959)<span></span>
</td>
<td class="nump">$ 172,798<span></span>
</td>
<td class="num">$ (9,536)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAbstract', window );"><strong>Earnings per share - basic</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare', window );">Net (loss) income from continuing operations (in dollars per share)</a></td>
<td class="num">$ (1.36)<span></span>
</td>
<td class="nump">$ 11.43<span></span>
</td>
<td class="num">$ (0.57)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Net (loss) income applicable to common shares (in dollars per share)</a></td>
<td class="num">(1.00)<span></span>
</td>
<td class="nump">10.81<span></span>
</td>
<td class="num">(0.61)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDilutedAbstract', window );"><strong>Earnings per share - diluted</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare', window );">Net (loss) income from continuing operations (in dollars per share)</a></td>
<td class="num">(1.36)<span></span>
</td>
<td class="nump">10.94<span></span>
</td>
<td class="num">(0.57)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Net (loss) income applicable to common shares (in dollars per share)</a></td>
<td class="num">$ (1.00)<span></span>
</td>
<td class="nump">$ 10.35<span></span>
</td>
<td class="num">$ (0.61)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesIssuedBasic', window );">Weighted average common shares used in computing earnings per share (in shares)</a></td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,982,528<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average common shares used in computing diluted earnings per share (in shares)</a></td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">16,697,966<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsAttributableToParentAbstract', window );"><strong>Amounts attributable to American Realty Investors, Inc.</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperations', window );">Net (loss) income from continuing operations</a></td>
<td class="num">$ (21,743)<span></span>
</td>
<td class="nump">$ 182,692<span></span>
</td>
<td class="num">$ (8,876)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net (loss) income applicable to common shares</a></td>
<td class="num">$ (15,959)<span></span>
</td>
<td class="nump">$ 172,798<span></span>
</td>
<td class="num">$ (9,536)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AdvisoryFeeToRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advisory fees to related parties, during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AdvisoryFeeToRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_GainLossOnLandSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of gain (loss) on sale of land during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_GainLossOnLandSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_IncomeLossFromJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from joint venture.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_IncomeLossFromJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NetIncomeFeeToRelatedParty1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income fee to related parties during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NetIncomeFeeToRelatedParty1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense incurred and directly related to generating revenue from leased and rented property or equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=117327953&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=117327953&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDilutedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDilutedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30700-110894<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDispositionOfAssets1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDispositionOfAssets1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=117329964&amp;loc=d3e12355-112629<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117329964&amp;loc=d3e12317-112629<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=117337411&amp;loc=d3e23528-158515<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(14)(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23439-158514<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23415-158514<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnSalesOfInvestmentRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of income (loss) from continuing operations attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4613673-111683<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsAttributableToParentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsAttributableToParentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=68072869&amp;loc=d3e41242-110953<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(15))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-03(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868656-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsPerBasicShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-03(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868656-224227<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109237563&amp;loc=d3e33749-111570<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109500613&amp;loc=SL6036836-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossOnSaleOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the carrying value and the sale price of an investment.  A loss would be recognized when the sale price of the investment is less than the carrying value of the investment. This element refers to the Loss included in earnings and not to the cash proceeds of the sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossOnSaleOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (expense) related to nonoperating activities, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendsAndOtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockDividendsAndOtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591551-111686<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3000-108585<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591552-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1505-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesIssuedBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding. Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1448-109256<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e2646-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesIssuedBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821198464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Flow From Operating Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="num">$ (21,743)<span></span>
</td>
<td class="nump">$ 182,692<span></span>
</td>
<td class="num">$ (8,876)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net (loss) income applicable to common shares to net cash used in operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainOnFormationOfVaa', window );">Gain on formation of VAA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(154,126)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency transaction loss (gain)</a></td>
<td class="nump">15,108<span></span>
</td>
<td class="num">(12,399)<span></span>
</td>
<td class="nump">4,536<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment</a></td>
<td class="nump">5,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on sale of land</a></td>
<td class="num">(15,272)<span></span>
</td>
<td class="num">(17,404)<span></span>
</td>
<td class="num">(4,884)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate', window );">Loss (gain) on sale of income-producing properties</a></td>
<td class="nump">80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(16,698)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">13,379<span></span>
</td>
<td class="nump">22,670<span></span>
</td>
<td class="nump">25,679<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfRealEstate', window );">Provision on impairment of notes receivable and real estate assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">558<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDeferredCharges', window );">Amortization of deferred borrowing costs</a></td>
<td class="nump">665<span></span>
</td>
<td class="nump">4,994<span></span>
</td>
<td class="nump">3,591<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of bond issuance costs</a></td>
<td class="nump">1,544<span></span>
</td>
<td class="nump">2,994<span></span>
</td>
<td class="nump">971<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_IncomeLossFromJointVenture', window );">Equity earnings from VAA</a></td>
<td class="nump">2,774<span></span>
</td>
<td class="num">(44)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">(Earnings) from unconsolidated subsidiaries and investees</a></td>
<td class="num">(461)<span></span>
</td>
<td class="num">(1,469)<span></span>
</td>
<td class="num">(309)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingAssetsAbstract', window );"><strong>(Increase) decrease in assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet', window );">Accrued interest receivable</a></td>
<td class="num">(5,792)<span></span>
</td>
<td class="num">(33,279)<span></span>
</td>
<td class="num">(581)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="nump">5,255<span></span>
</td>
<td class="num">(86,796)<span></span>
</td>
<td class="nump">11,751<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidExpense', window );">Prepaid expense</a></td>
<td class="nump">11,969<span></span>
</td>
<td class="nump">19,125<span></span>
</td>
<td class="num">(15,192)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInLeasingReceivables', window );">Rent receivables</a></td>
<td class="num">(618)<span></span>
</td>
<td class="num">(3,213)<span></span>
</td>
<td class="num">(425)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties', window );">Related party receivables</a></td>
<td class="num">(46,191)<span></span>
</td>
<td class="num">(11,894)<span></span>
</td>
<td class="num">(12,871)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract', window );"><strong>Increase (decrease) in liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInterestPayableNet', window );">Accrued interest payable</a></td>
<td class="nump">2,338<span></span>
</td>
<td class="num">(2,316)<span></span>
</td>
<td class="nump">4,599<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities', window );">Other liabilities</a></td>
<td class="num">(8,895)<span></span>
</td>
<td class="num">(81,867)<span></span>
</td>
<td class="num">(21,975)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash (used in) operating activities</a></td>
<td class="num">(40,641)<span></span>
</td>
<td class="num">(172,332)<span></span>
</td>
<td class="num">(30,126)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash Flow From Investing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ProceedsFromDispositionOf50InterestInVaa', window );">Proceeds from disposition of 50% interest in VAA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">236,752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromCollectionOfNotesReceivable', window );">Proceeds from notes receivables</a></td>
<td class="nump">19,755<span></span>
</td>
<td class="nump">6,541<span></span>
</td>
<td class="nump">30,233<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireNotesReceivable', window );">Origination of notes receivables</a></td>
<td class="num">(21,434)<span></span>
</td>
<td class="num">(16,801)<span></span>
</td>
<td class="num">(15,741)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireLand', window );">Acquisition of land held for development</a></td>
<td class="num">(3,422)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment', window );">Acquisition of income producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,558)<span></span>
</td>
<td class="num">(37,044)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment', window );">Proceeds from sale of income producing properties</a></td>
<td class="nump">1,296<span></span>
</td>
<td class="nump">4,889<span></span>
</td>
<td class="nump">4,623<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfLandHeldForUse', window );">Proceeds from sale of land</a></td>
<td class="nump">27,326<span></span>
</td>
<td class="nump">11,857<span></span>
</td>
<td class="nump">6,301<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital', window );">Distribution from equity investee</a></td>
<td class="nump">6,701<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions', window );">Distributions to equity partner</a></td>
<td class="num">(197)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_InvestmentInUnconsolidatedRealEstateEntities', window );">Investment in unconsolidated real estate entities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(267)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToDevelopRealEstateAssets', window );">Improvement of income producing properties</a></td>
<td class="num">(5,257)<span></span>
</td>
<td class="num">(3,688)<span></span>
</td>
<td class="num">(1,986)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForConstructionInProcess', window );">Construction and development of new properties</a></td>
<td class="num">(28,473)<span></span>
</td>
<td class="num">(81,367)<span></span>
</td>
<td class="num">(76,147)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash (used in) provided by investing activities</a></td>
<td class="num">(3,705)<span></span>
</td>
<td class="nump">147,625<span></span>
</td>
<td class="num">(90,028)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flow From Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt', window );">Proceeds from bonds</a></td>
<td class="nump">78,125<span></span>
</td>
<td class="nump">59,213<span></span>
</td>
<td class="nump">115,337<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PaymentsForBonds', window );">Bond payments</a></td>
<td class="num">(21,742)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDebtIssuanceCosts', window );">Bond issuance costs</a></td>
<td class="num">(4,241)<span></span>
</td>
<td class="num">(5,257)<span></span>
</td>
<td class="num">(6,887)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromNotesPayable', window );">Proceeds from notes payable</a></td>
<td class="nump">25,675<span></span>
</td>
<td class="nump">123,345<span></span>
</td>
<td class="nump">135,116<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RecurringPaymentOfPrincipalOnNotesPayable', window );">Recurring payment of principal on notes payable</a></td>
<td class="num">(11,445)<span></span>
</td>
<td class="num">(124,616)<span></span>
</td>
<td class="num">(86,091)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RepaymentsOfCommercialNotePayable', window );">Payment on commercial note payable</a></td>
<td class="num">(41,531)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDebtExtinguishmentCosts', window );">Debt extinguishment costs</a></td>
<td class="num">(3,799)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary', window );">Acquisition of Series A preferred stock by consolidated subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,000)<span></span>
</td>
<td class="num">(3,599)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PreferredStockDividendsSeries', window );">Preferred stock dividends - Series A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(901)<span></span>
</td>
<td class="num">(1,105)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by financing activities</a></td>
<td class="nump">21,042<span></span>
</td>
<td class="nump">42,784<span></span>
</td>
<td class="nump">152,771<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect', window );">Net (decrease) increase in cash and cash equivalents</a></td>
<td class="num">(23,304)<span></span>
</td>
<td class="nump">18,077<span></span>
</td>
<td class="nump">32,617<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash and cash equivalents, beginning of period</a></td>
<td class="nump">106,615<span></span>
</td>
<td class="nump">88,538<span></span>
</td>
<td class="nump">55,921<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash and cash equivalents, end of period</a></td>
<td class="nump">83,311<span></span>
</td>
<td class="nump">106,615<span></span>
</td>
<td class="nump">88,538<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental disclosures of cash flow information:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash paid for interest</a></td>
<td class="nump">38,904<span></span>
</td>
<td class="nump">57,981<span></span>
</td>
<td class="nump">$ 39,732<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashInvestingAndFinancingItemsAbstract', window );"><strong>Schedule of noncash investing and financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1', window );">Land received in exchanged for note receivable</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesIssued1', window );">Notes receivable received from sale of income-producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,735<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransferOfOtherRealEstate', window );">Seller financing note - acquisition of income-producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,895<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionPayablesAssumed1', window );">Notes payable issued on acquisition of income-producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 31,175<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NotesPayableIssuedOnAcquisitionOfLand', window );">Notes payable issued on acquisition of land</a></td>
<td class="nump">$ 1,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_GainLossOnLandSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of gain (loss) on sale of land during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_GainLossOnLandSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_GainOnFormationOfVaa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain on formation of VAA.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_GainOnFormationOfVaa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_IncomeLossFromJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from joint venture.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_IncomeLossFromJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_InvestmentInUnconsolidatedRealEstateEntities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with investment in unconsolidated real estate entities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_InvestmentInUnconsolidatedRealEstateEntities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NotesPayableIssuedOnAcquisitionOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount represents value of issuance of notes payable on acquisition of land.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NotesPayableIssuedOnAcquisitionOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PaymentsForBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments for bonds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PaymentsForBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments to acquire preferred stock by consolidated subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PaymentsToAcquirePreferredStockByConsolidatedSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PreferredStockDividendsSeries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount refers to preferred stock dividends series.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PreferredStockDividendsSeries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_ProceedsFromDispositionOf50InterestInVaa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from proceeds from disposition of 50% interest in VAA.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_ProceedsFromDispositionOf50InterestInVaa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RecurringPaymentOfPrincipalOnNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of recurring payament of principal on note payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RecurringPaymentOfPrincipalOnNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RepaymentsOfCommercialNotePayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment on commercial note payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RepaymentsOfCommercialNotePayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDeferredCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortization of deferred charges applied against earnings during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDeferredCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3521-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513438&amp;loc=d3e33268-110906<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30700-110894<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=117329964&amp;loc=d3e12355-112629<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117329964&amp;loc=d3e12317-112629<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=117337411&amp;loc=d3e23528-158515<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(14)(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23439-158514<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23415-158514<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnSalesOfInvestmentRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The charge against earnings in the period to reduce the carrying amount of real property to fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109226691&amp;loc=d3e2921-110230<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109237563&amp;loc=d3e33749-111570<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the undistributed income (or loss) of equity method investments, net of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations; such investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount due to the reporting entity for good and services provided to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management, an entity and its principal owners, management, member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount due from borrowers for interest payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInterestPayableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInterestPayableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInLeasingReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount due from lessees arising from lease agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInLeasingReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in operating assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in operating liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3367-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashInvestingAndFinancingItemsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fixed assets that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
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<td><strong> Balance Type:</strong></td>
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</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionPayablesAssumed1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of payables that an Entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionPayablesAssumed1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of notes issued in noncash investing and financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForConstructionInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow from construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForConstructionInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDebtExtinguishmentCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow for cost from early extinguishment and prepayment of debt. Includes, but is not limited to, third-party cost, premium paid, and other fee paid to lender directly for debt extinguishment or debt prepayment. Excludes accrued interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDebtExtinguishmentCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDebtIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDebtIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow from the acquisition of real estate intended to generate income for the owner; excludes land acquired for use by the owner.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireNotesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireNotesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the purchase of real estate held for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireRealEstateHeldForInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToDevelopRealEstateAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments to develop real estate assets is the process of adding improvements on or to a parcel of land. Such improvements may include drainage, utilities, subdividing, access, buildings, and any combination of these elements; and are generally classified as cash flow from investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToDevelopRealEstateAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromCollectionOfNotesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromCollectionOfNotesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of distribution received from equity method investee for return of investment, classified as investing activities. Excludes distribution for return on investment, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 21D<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=SL94080555-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a borrowing supported by a written promise to pay an obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from other long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfLandHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale of land held for use; excludes sales of land held as inventory or investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received from the sale of real estate that is held for investment, that is, it is part of an investing activity during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591551-111686<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3000-108585<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591552-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value transferred out of real estate owned (REO) in noncash transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6663450064">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES<br></strong></div></th>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">Current:</font>
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">Federal</font>
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">42,231</font>
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">(3,044</font>
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">State</font>
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">1,210</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">10</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">Deferred and Other:</font>
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">Federal</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">)</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"></td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">&#x2014;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">170</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif"><b>&#x2014;</b></font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">)&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">31,739</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(3,044</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#x2014;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">1,210</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">180</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Permanent tax differences</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;(2,499</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(224</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#x2014;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Temporary tax differences</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#x2014;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">18,371</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><b><font style="color: black"><font style="color: black">Total Deferred Tax Assets</font></font></b></p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">27,843</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="color: black">15,578</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">(21,180</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">)&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="color: black">(12,246</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">)</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">$</p>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">6,663</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">$</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810800320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS, CONTINGENCIES, AND LIQUIDITY<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
17.</b>&#160;&#160;&#160;&#160; <b><i>COMMITMENTS, CONTINGENCIES, AND LIQUIDITY</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Liquidity.
</i></b>&#160;&#160;&#160;&#160;Management believes that TCI will generate excess cash from property operations in 2020; such
excess, however, might not be sufficient to discharge all of TCI&#8217;s obligations as they become due. Management intends to
sell income-producing assets, refinance real estate and obtain additional borrowings primarily secured by real estate to meet
its liquidity requirements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Guarantees</i></b><i>.&#160;</i>The
Company is the primary guarantor, on a $25.0 million mezzanine loan between UHF and a lender. In addition, ARL, and an officer
of the Company are limited recourse guarantors of the loan. As of December 31, 2019 UHF was in compliance with the covenants to
the loan agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Partnership
Buyouts</i>.</b>&#160;&#160;&#160;&#160;TCI is the limited partner in various partnerships related the construction of residential
properties. As permitted in the respective partnership agreements, TCI intends to purchase the interests of the general and any
other limited partners in these partnerships subsequent to the completion of these projects. The amounts paid to buy out the nonaffiliated
partners are limited to development fees earned by the non-affiliated partners, and are set forth in the respective partnership
agreements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>ART
and ART Midwest, Inc.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A
formerly owned entity (American Realty Trust, Inc.) and its former subsidiary (ART Midwest, Inc.) have been parties&#160; to a
litigation with Mr. David Clapper and entities related to Mr. Clapper (collectively, the &#8220;Clapper Parties&#8221;). The matter
originally involved a transaction in 1998 in which ART Midwest, Inc. was to acquire eight residential apartment complexes from
the Clapper Parties. Through the years, a number of rulings, both for and against American Realty Trust, Inc. &#8220;ART&#8221;
and ART Midwest, Inc., were issued. In October 2011, a ruling was issued under which the Clapper Parties received a judgment for
approximately $74 million, including $26 million in actual damages and $48 million interest. The ruling was against ART and ART
Midwest, Inc., but no other entity. During February 2014, the Court of Appeals affirmed a portion of the judgment in favor of
the Clapper Parties, but also ruled that a double counting of a significant portion of the damages had occurred and remanded the
case back to the trial court to recalculate the damage award, as well as pre- and post-judgment interest thereon. Subsequently,
the trial court recalculated the damage award, reducing it to approximately $59 million, inclusive of actual damages and then
current interest. ART was also a significant owner of a partnership interest in the partnership that was awarded the initial damages
in this matter.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Clapper Parties subsequently filed a new lawsuit against ARI, its subsidiary EQK Holdings, Inc. &#8220;EQK&#8221;, and ART. The
Clapper Parties seek damages from ARL for payment by ART to ARL of ART&#8217;s stock in EQK in exchange for a release of the Antecedent
Debt owed by ART to ARI. In February 2018 the court determined that this legal matter should not have been filed in federal court
and therefore granted motions to dismiss on jurisdictional grounds. In June 2018, the court overruled its own grant of motions
to dismiss and reinstated the case. We continue to vigorously defend the case and management believes it has defenses to the claims.
The case has not been set for trial.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;In
2005, ART filed suit against a major national law firm over the initial transaction. That action was initially abated while the
principal case with the Clapper Parties was pending, but the abatement was recently lifted. The trial court subsequently dismissed
the case on procedural grounds, but ART has filed a notice of appeal. The appeal was heard in February 2018 and the case was subsequently
appealed to the Texas Supreme Court. The application for Review is still pending with the Texas Supreme Court.&#160; In January
2012, the Company sold all of the issued and outstanding stock of ART to an unrelated party for a promissory note in the amount
of $10 million. At December 31, 2012, the Company fully reserved and valued such note at zero.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Dynex
Capital, Inc.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
July 20, 2015, the 68<sup>th</sup>&#160;Judicial District Court in Dallas County, Texas issued its Final Judgment in Cause No.
DC-03-00675, styled Basic Capital Management, Inc., American Realty Trust, Inc., Transcontinental Realty Investors, Inc., Continental
Poydras Corp., Continental Common, Inc. and Continental Baronne, Inc. v. Dynex Commercial, Inc. The case, which was litigated
for more than a decade, had its origin with Dynex Commercial making loans to Continental Poydras Corp., Continental Common, Inc.
and Continental Baronne, Inc. (subsidiaries of Continental Mortgage &#38; Equity Trust (&#8220;CMET&#8221;), an entity which merged
into TCI in 1999 after the original suit was filed). Under the original loan commitment, $160 million in loans were to be made
to the entities. The loans were conditioned on the execution of a commitment between Dynex Commercial and Basic Capital Management,
Inc. (&#8220;Basic&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An
original trial in 2004, which also included Dynex Capital, Inc. as a defendant, resulted in a jury awarding damages in favor of
Basic for &#8220;lost opportunity,&#8221; as well as damages in favor of ART and in favor of TCI and its subsidiaries for &#8220;increased
costs&#8221; and &#8220;lost opportunity.&#8221; The original Trial Court judge ignored the jury&#8217;s findings, however, and
entered a &#8220;Judgment Notwithstanding the Verdict&#8221; (&#8220;JNOV&#8221;) in favor of the Dynex entities (the judge held
the Plaintiffs were not entitled to any damages from the Dynex entities). After numerous appeals by all parties, Dynex Capital,
Inc. was ultimately dismissed from the case and the remaining claims against Dynex Commercial were remanded to the Trial Court
for a new judgment consistent with the jury&#8217;s findings. The Court entered the new Final Judgment against Dynex Commercial,
Inc. on July 20, 2015.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Final Judgment entered against Dynex Commercial, Inc. on July 20, 2015 awarded Basic was $0.256 million in damages, plus pre-judgment
interest of $0.192 million for a total amount of $0.448 million. The Judgment awarded ART was $14.2 million in damages, plus pre-judgment
interest of $10.6 million for a total amount of $24.8 million. The Judgment awarded TCI was $11.1 million, plus pre-judgment interest
of $8.4 million for a total amount of $19.5 million. The Judgment also awarded Basic, ART, and TCI post-judgment interest at the
rate of 5% per annum from April 25, 2014 until the date their respective damages were paid. Lastly, the Judgement awarded Basic,
ART, and TCI was $1.6 million collectively in attorneys&#8217; fees from Dynex Commercial, Inc.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">TCI
is working with counsel to identify assets and collect on the Final Judgment against Dynex Commercial, Inc., as well as pursue
additional claims, if any, against Dynex Capital, Inc. Post judgment interest continues to accrue.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Berger
Litigation</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 4, 2019, an individual claiming to be a stockholder holding 7,900 shares of Common Stock of Income Opportunity Realty Investors, Inc. (&#8220;IOR&#8221;) filed a Complaint in the United States District Court for the Northern District of Texas, Dallas Division, individually and allegedly derivatively on behalf of IOR, against Transcontinental Realty Investors, Inc. (&#8220;TCI&#8221;), American Realty Investors, Inc. (&#8220;ARL&#8221;), (TCI is a shareholder of IOR, ARL is a shareholder of TCI) Pillar Income Asset Management, Inc. (&#8220;Pillar&#8221;), ( collectively the &#8220;Companies&#8221;), certain officers and directors of the Companies (&#8220;Additional Parties&#8221;) and two other individuals. The Complaint filed alleges that the sale and/or exchange of certain tangible and intangible property between the Companies and IOR during the last ten years of business operations constitutes a breach of fiduciary duty by the one or more of Companies, the Additional Defendants and/or the directors of IOR. The case alleges other related claims. The Plaintiff seeks certification as a representative of IOR and all of its shareholders, unspecified damages, a return to IOR of various funds and an award of costs, expenses, disbursements (including Plaintiff&#8217;s attorneys&#8217; fees) and prejudgment and post-judgment interest. The named Defendants intend to vigorously defend the action, deny all of the allegations of the Complaint, and believe the allegations to be wholly without any merit. The Defendants have filed motions to dismiss the case in its entirety in June 2019. On February 26, 2020, the Court denied IOR&#8217;s demand futility motion. The remainder of the motions to dismiss are pending.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Litigation</i></b><i>.&#160;</i>The
ownership of property and provision of services to the public as tenants entails an inherent risk of liability. Although the Company
and its subsidiaries are involved in various items of litigation incidental to and in the ordinary course of its business, in
the opinion of management, the outcome of such litigation will not have a material adverse impact upon the Company&#8217;s financial
condition, results of operation or liquidity.</p><span></span>
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<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>INVESTMENT IN VAA (Details 2)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>Number</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DevelopmentInProcess', window );">Costs to Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 22,363<span></span>
</td>
<td class="nump">$ 21,916<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units | Number</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,888<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member] | Lakeside Lofts Apartments [Member] | Framers Branch, Texas</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units | Number</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">249<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DevelopmentInProcess', window );">Costs to Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 50,357<span></span>
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<td class="text">&#160;<span></span>
</td>
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<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 80,622<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member] | Apartment Projects In Development [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units | Number</a></td>
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<td class="nump">249<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 50,357<span></span>
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<td class="text">&#160;<span></span>
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<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 80,622<span></span>
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<td class="text">&#160;<span></span>
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<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Costs include construction hard costs, construction soft costs and loan borrowing costs.</td>
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<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_FramersBranchTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ApartmentProjectsInDevelopmentMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6794103440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>QUARTERLY RESULTS OF OPERATIONS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract', window );"><strong>Quarterly Financial Information Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock', window );">Schedule of quarterly results of operations</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following is a tabulation of quarterly
results of operations for the years 2019, 2018 and 2017. Quarterly results presented differ from those previously reported in ARL&#8217;s
Form 10-Q due to the reclassification of the operations of properties sold or held for sale to discontinued operations in accordance
with ASC topic 360:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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<tr>
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    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">11,929</td>
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    <td style="vertical-align: bottom; text-align: right">11,840</td>
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    <td style="vertical-align: bottom; text-align: right">11,943</td>
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    <td style="vertical-align: bottom; text-align: right">12,258</td>
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<tr>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">13,664</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">16,217</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">15,688</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,735</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(4,377</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,866</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,430</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(6,963</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,927</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(12,723</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,914</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">(Loss)&#160; before gain on sales, non-contolling interest, and taxes</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(8,698</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,304</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(14,589</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,344</td>
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<tr>
    <td style="vertical-align: top">Loss on sale of income producing properties</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(80</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain on land sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,216</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,517</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">5,139</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">5,400</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Net loss from continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(6,482</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,867</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(9,450</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,944</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net loss</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,482</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,867</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,450</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,944</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Less: net (income) attributable to non-controlling interest</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">335</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,089</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,879</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,482</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(6,147</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(2,778</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(7,571</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">538</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.41</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.24</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.59</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.12</td>
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<tr>
    <td style="vertical-align: top">Net income (loss) applicable to common shares</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.38</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.17</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.47</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.03</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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<tr>
    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
    <td style="vertical-align: top">Income (loss) from continued operations</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.41</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.24</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.59</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.12</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net income (loss) applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.38</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.17</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.47</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.03</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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<tr>
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    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; text-align: right">31,083</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">31,607</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">33,409</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">24,857</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">26,165</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">27,990</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">28,199</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">24,717</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,918</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,617</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,210</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">140</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(6,638</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,678</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">5,955</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,508</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,720</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,295</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">11,165</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,368</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">154,126</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,335</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">12,243</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">3,826</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(792</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(418</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(385</td>
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    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">6,295</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">22,616</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">154,166</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(275</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(441</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(2,265</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(6,012</td>
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<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(225</td>
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    <td style="border-bottom: black 1pt solid">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(225</td>
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    <td style="border-bottom: black 1pt solid">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(225</td>
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    <td style="border-bottom: black 1pt solid">&#160;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(885</td>
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    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">5,629</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">20,126</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">147,928</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>PER SHARE DATA</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
    <td style="vertical-align: top"><b>Earnings per share - basic</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.06</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">9.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Net (loss) income applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.06</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">1.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">9.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,938,077</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Earnings per share - diluted</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
    <td style="vertical-align: top">Income (loss) from continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.06</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">9.27</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net income (loss) applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.06</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">1.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">9.27</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,938,077</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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<tr>
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<tr>
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    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; text-align: right">31,822</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">31,587</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">31,807</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">31,005</td>
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<tr>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">27,345</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">26,759</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">26,397</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">28,292</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Operating income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,477</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,828</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,410</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,713</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Other expense</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(10,829</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(15,676</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(9,348</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(11,853</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Loss before gain on sales, non-contolling interest, and taxes</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,352</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(10,848</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,938</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,140</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Gain on sale of income producing properties</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,938</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain (loss) on land sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">445</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(476</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,062</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,853</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Income tax expense</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(180</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income from continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(5,907</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(11,324</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">9,884</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,529</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Net income (loss)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(5,907</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(11,324</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">9,884</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,529</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Less: net (income) loss attributable to non-controlling interest</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">193</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">435</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(522</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">339</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Preferred dividend requirement</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(275</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(275</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(275</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(280</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(5,989</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(11,164</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">9,087</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">&#160;</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(1,470</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>PER SHARE DATA</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Earnings per share - basic</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">(Loss) income from continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.39</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.72</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.09</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Net (loss) income applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.39</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.72</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.09</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Weighted average common shares used in computing earnings per share</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Earnings per share - diluted</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">(Loss) income from continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.39</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.72</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.09</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.39</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.72</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.09</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Weighted average common shares used in computing diluted earnings per share</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_QuarterlyFinancialInformationDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118952077&amp;loc=d3e1280-108306<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td>na</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6825140848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES AND INTEREST PAYABLE (Details Narrative) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConstructionLoansPayable', window );">Proceeds from construction loans</a></td>
<td class="nump">$ 8,500<span></span>
</td>
<td class="nump">$ 81,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Interest payable</a></td>
<td class="nump">$ 779<span></span>
</td>
<td class="nump">$ 861<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDateDescription', window );">Description of maturity date</a></td>
<td class="text">Mature between 2021 and 2059.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateNetCarryingValue', window );">Real estate, net carrying value</a></td>
<td class="nump">$ 311,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">9.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateNetCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represent real estae net carrying value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateNetCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDateDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDateDescription</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest payable on debt, including, but not limited to, trade payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrentAndNoncurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromConstructionLoansPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings to finance the cost of construction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromConstructionLoansPayable</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821892176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND FEES (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember', window );">Pillar Income Asset Management, Inc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_FeesAndCommissions1Abstract', window );"><strong>Fees:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedAdvisoryFees', window );">Advisory</a></td>
<td class="nump">$ 6,612<span></span>
</td>
<td class="nump">$ 11,475<span></span>
</td>
<td class="nump">$ 11,082<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageBrokerageAndEquityRefinancingRelatedParty', window );">Mortgage brokerage and equity refinancing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">852<span></span>
</td>
<td class="nump">1,712<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedNetIncomeFee', window );">Net income</a></td>
<td class="nump">357<span></span>
</td>
<td class="nump">631<span></span>
</td>
<td class="nump">250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedFeesAndCommissions', window );">Total fees</a></td>
<td class="nump">6,969<span></span>
</td>
<td class="nump">12,958<span></span>
</td>
<td class="nump">13,044<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RelatedPartyOtherExpenseAbstract', window );"><strong>Other Expense:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedCostReimbursements', window );">Cost reimbursements</a></td>
<td class="nump">4,265<span></span>
</td>
<td class="nump">4,720<span></span>
</td>
<td class="nump">3,240<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_InterestExpenseIncomeRelatedParty', window );">Interest paid (received)</a></td>
<td class="num">(4,686)<span></span>
</td>
<td class="num">(3,370)<span></span>
</td>
<td class="num">(1,195)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RelatedPartyOtherExpense', window );">Total other expense</a></td>
<td class="num">(421)<span></span>
</td>
<td class="nump">1,350<span></span>
</td>
<td class="nump">2,045<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenue:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Rental</a></td>
<td class="nump">1,311<span></span>
</td>
<td class="nump">1,178<span></span>
</td>
<td class="nump">783<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_AffiliatedEntity1Member', window );">Regis Realty Prime, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_FeesAndCommissions1Abstract', window );"><strong>Fees:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedPropertyAcquisition', window );">Property acquisition</a></td>
<td class="nump">318<span></span>
</td>
<td class="nump">32,008<span></span>
</td>
<td class="nump">9,128<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions', window );">Property management, construction management and leasing commissions</a></td>
<td class="nump">165<span></span>
</td>
<td class="nump">540<span></span>
</td>
<td class="nump">963<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateBrokerageFeesRelatedParty', window );">Real estate brokerage</a></td>
<td class="nump">71<span></span>
</td>
<td class="nump">2,068<span></span>
</td>
<td class="nump">1,369<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedFeesAndCommissions', window );">Total fees</a></td>
<td class="nump">$ 554<span></span>
</td>
<td class="nump">$ 34,616<span></span>
</td>
<td class="nump">$ 11,460<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedAdvisoryFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a due from related advisory fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedAdvisoryFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedCostReimbursements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to due from related party payment for cost of reimbursements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedCostReimbursements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedFeesAndCommissions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a due from related fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedFeesAndCommissions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedNetIncomeFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a due from related net income fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedNetIncomeFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedPropertyAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a due from related property acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedPropertyAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a due from related property construction management and leasing commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedPropertyConstructionManagementAndLeasingCommissions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_FeesAndCommissions1Abstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represnets fees and commissions abstract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_FeesAndCommissions1Abstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_InterestExpenseIncomeRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a interest expense income related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_InterestExpenseIncomeRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MortgageBrokerageAndEquityRefinancingRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of mortgage brokerage and equity refinancing fees with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageBrokerageAndEquityRefinancingRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateBrokerageFeesRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of real estate brokerage fees with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateBrokerageFeesRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RelatedPartyOtherExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a related party &amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp; other expences.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RelatedPartyOtherExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RelatedPartyOtherExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RelatedPartyOtherExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637345&amp;loc=SL114874292-224272<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_AffiliatedEntity1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_AffiliatedEntity1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<DOCUMENT>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6648982512">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>DIVIDENDS (Details Narrative) - Series A Preferred Stock [Member] - RAI [Member]<br></strong></div></th>
<th class="th">
<div>Jan. 12, 2018 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Number of shares converted</a></td>
<td class="nump">200,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Number of shares issued upon conversion</a></td>
<td class="nump">482,716<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesConverted1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesConverted1</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesIssued1</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RAIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RAIMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</html>
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<SEQUENCE>22
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<head>
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<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797193488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowElementsAbstract', window );"><strong>Supplemental Cash Flow Elements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Total cash, cash equivalents and restricted cash</a></td>
<td class="nump">$ 83,311<span></span>
</td>
<td class="nump">$ 106,615<span></span>
</td>
<td class="nump">$ 88,538<span></span>
</td>
<td class="nump">$ 55,921<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash paid for interest</a></td>
<td class="nump">$ 38,904<span></span>
</td>
<td class="nump">$ 57,981<span></span>
</td>
<td class="nump">$ 39,732<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3521-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3367-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowElementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804483584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="12">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Sep. 30, 2019</div></th>
<th class="th"><div>Jun. 30, 2019</div></th>
<th class="th"><div>Mar. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate, net of accumulated depreciation</a></td>
<td class="nump">$ 387,790<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 387,790<span></span>
</td>
<td class="nump">$ 381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Notes receivable</a></td>
<td class="nump">156,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">126,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">156,200<span></span>
</td>
<td class="nump">126,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 143,601<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">49,689<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,689<span></span>
</td>
<td class="nump">66,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayable', window );">Notes payable</a></td>
<td class="num">(254,873)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(286,968)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(254,873)<span></span>
</td>
<td class="num">(286,968)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Shareholders' equity/partners capital</a></td>
<td class="num">(239,499)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(258,325)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(239,499)<span></span>
</td>
<td class="num">(258,325)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="nump">12,258<span></span>
</td>
<td class="nump">$ 11,943<span></span>
</td>
<td class="nump">$ 11,840<span></span>
</td>
<td class="nump">$ 11,929<span></span>
</td>
<td class="nump">24,857<span></span>
</td>
<td class="nump">$ 33,409<span></span>
</td>
<td class="nump">$ 31,607<span></span>
</td>
<td class="nump">$ 31,083<span></span>
</td>
<td class="nump">$ 31,005<span></span>
</td>
<td class="nump">$ 31,807<span></span>
</td>
<td class="nump">$ 31,587<span></span>
</td>
<td class="nump">$ 31,822<span></span>
</td>
<td class="nump">47,970<span></span>
</td>
<td class="nump">120,956<span></span>
</td>
<td class="nump">$ 126,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13,379)<span></span>
</td>
<td class="num">(22,670)<span></span>
</td>
<td class="num">(25,679)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Operating expenses</a></td>
<td class="num">(15,688)<span></span>
</td>
<td class="num">$ (13,809)<span></span>
</td>
<td class="num">$ (16,217)<span></span>
</td>
<td class="num">$ (13,664)<span></span>
</td>
<td class="num">(24,717)<span></span>
</td>
<td class="num">$ (28,199)<span></span>
</td>
<td class="num">$ (27,990)<span></span>
</td>
<td class="num">$ (26,165)<span></span>
</td>
<td class="num">(28,292)<span></span>
</td>
<td class="num">$ (26,397)<span></span>
</td>
<td class="num">$ (26,759)<span></span>
</td>
<td class="num">$ (27,345)<span></span>
</td>
<td class="num">(59,378)<span></span>
</td>
<td class="num">(107,071)<span></span>
</td>
<td class="num">(108,793)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperations', window );">Income (loss) from continuing operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(21,743)<span></span>
</td>
<td class="nump">182,692<span></span>
</td>
<td class="num">(8,876)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,958)<span></span>
</td>
<td class="nump">173,699<span></span>
</td>
<td class="num">(8,431)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Company's 20% proportionate share of earnings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">461<span></span>
</td>
<td class="nump">1,469<span></span>
</td>
<td class="nump">309<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_GruppaFlorentinaLlcMember', window );">Gruppa Florentina LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate, net of accumulated depreciation</a></td>
<td class="nump">13,041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,587<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,041<span></span>
</td>
<td class="nump">13,810<span></span>
</td>
<td class="nump">12,587<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Notes receivable</a></td>
<td class="nump">11,076<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,724<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,076<span></span>
</td>
<td class="nump">11,238<span></span>
</td>
<td class="nump">2,724<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">33,708<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,566<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,176<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33,708<span></span>
</td>
<td class="nump">32,566<span></span>
</td>
<td class="nump">32,176<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayable', window );">Notes payable</a></td>
<td class="num">(10,195)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,287)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(17,845)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,195)<span></span>
</td>
<td class="num">(11,287)<span></span>
</td>
<td class="num">(17,845)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilities', window );">Other liabilities</a></td>
<td class="num">(6,328)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,320)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,991)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,328)<span></span>
</td>
<td class="num">(7,320)<span></span>
</td>
<td class="num">(5,991)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Shareholders' equity/partners capital</a></td>
<td class="num">$ (41,302)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (39,007)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (23,651)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(41,302)<span></span>
</td>
<td class="num">(39,007)<span></span>
</td>
<td class="num">(23,651)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55,241<span></span>
</td>
<td class="nump">53,834<span></span>
</td>
<td class="nump">38,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,456)<span></span>
</td>
<td class="num">(1,456)<span></span>
</td>
<td class="num">(1,279)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Operating expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(50,861)<span></span>
</td>
<td class="num">(49,647)<span></span>
</td>
<td class="num">(35,410)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(621)<span></span>
</td>
<td class="num">(673)<span></span>
</td>
<td class="num">(1,065)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperations', window );">Income (loss) from continuing operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,303<span></span>
</td>
<td class="nump">2,058<span></span>
</td>
<td class="nump">993<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,303<span></span>
</td>
<td class="nump">2,058<span></span>
</td>
<td class="nump">993<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Company's 20% proportionate share of earnings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 461<span></span>
</td>
<td class="nump">$ 412<span></span>
</td>
<td class="nump">$ 199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of income (loss) from continuing operations attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4613673-111683<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109237563&amp;loc=d3e33749-111570<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (210.5-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayable</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118952595&amp;loc=d3e4428-111522<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableNet</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssets</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6818707792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS, CONTINGENCIES, AND LIQUIDITY (Details Narrative) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 04, 2019</div></th>
<th class="th"><div>Jul. 20, 2015</div></th>
<th class="th"><div>Feb. 28, 2014</div></th>
<th class="th"><div>Oct. 31, 2011</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
<th class="th"><div>Jan. 31, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 169,299<span></span>
</td>
<td class="nump">$ 140,327<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LitigationStatusAxis=us-gaap_JudicialRulingMember', window );">Dynex Capital, Inc.Litigation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyDamagesSoughtValue', window );">Damages sought value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 160,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AwardedAttorneyFees', window );">Awarded attorney fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GuaranteeObligationsByNatureAxis=arl_FinancialGuarantee1Member', window );">UHF Debt Guarantee [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GuaranteeObligationsMaximumExposure', window );">Loan guarantee amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_EquityMethodInvestee4Member', window );">American Reality Trust, Inc. [Member] | Dynex Capital, Inc.Litigation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyDamagesAwardedValue', window );">Damages - awarded amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DamagesPrejudgementInterest', window );">Damages - pre-judgement interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DamagesTotal', window );">Damages - total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_LitigationCaseAxis=arl_IndividualShareholderMember', window );">Individual Shareholder [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyAllegations', window );">Description of allegation</a></td>
<td class="text">That the sale and/or exchange of certain tangible and intangible property between the Companies and IOR during the last ten years of business operations constitutes a breach of fiduciary duty by the one or more of Companies, the Additional Defendants and/or the directors of IOR.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MinorityStockholders', window );">Minority stockholders</a></td>
<td class="nump">7,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_LitigationCaseAxis=arl_ClapperPartiesMember', window );">ART and ART Midwest, Inc. Litigation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyDamagesSoughtValue', window );">Damages sought value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 74,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_LossContingencyActualDamagesSoughtValue', window );">Actual damages sought value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 59,000<span></span>
</td>
<td class="nump">26,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_LossContingencyDamagesSoughtInterestValue', window );">Interest damages sought value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 48,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyNameOfPlaintiff', window );">Description of plaintiff</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Mr. David Clapper and entities related to Mr. Clapper (collectively, the &#8220;Clapper Parties&#8221;).<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyNameOfDefendant', window );">Description of defendant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">A formerly owned entity (American Realty Trust, Inc.) and its former subsidiary (ART Midwest, Inc.)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyAllegations', window );">Description of allegation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The matter originally involved a transaction in 1998 in which ART Midwest, Inc. was to acquire eight residential apartment complexes from the Clapper Parties.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 10,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=srt_SubsidiariesMember', window );">Southern Properties Capital LTD [Member] | Dynex Capital, Inc.Litigation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyDamagesAwardedValue', window );">Damages - awarded amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DamagesPrejudgementInterest', window );">Damages - pre-judgement interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DamagesTotal', window );">Damages - total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_BasicEntityMember', window );">Basic Capital Management, Inc. [Member] | Dynex Capital, Inc.Litigation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyDamagesAwardedValue', window );">Damages - awarded amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">256<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DamagesPrejudgementInterest', window );">Damages - pre-judgement interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DamagesTotal', window );">Damages - total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 448<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AwardedAttorneyFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of attorneys' fees awarded to the plaintiff in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AwardedAttorneyFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DamagesPrejudgementInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of pre-judgment interest awarded to the plaintiff in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DamagesPrejudgementInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DamagesTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of damages awarded to the plaintiff in the legal matter, including interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DamagesTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_LossContingencyActualDamagesSoughtValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The actual value (monetary amount) of the award the plaintiff seeks in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_LossContingencyActualDamagesSoughtValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_LossContingencyDamagesSoughtInterestValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest value (monetary amount) of the award the plaintiff seeks in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_LossContingencyDamagesSoughtInterestValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MinorityStockholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents minority stockholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MinorityStockholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GuaranteeObligationsMaximumExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=118943654&amp;loc=d3e12069-110248<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GuaranteeObligationsMaximumExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingencyAllegations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Presents an assertion of a fact by a plaintiff in a pleading or complaint, which the plaintiff claims it will prove upon presentation of evidence at the proceeding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14435-108349<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14326-108349<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14557-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyAllegations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingencyDamagesAwardedValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of damages awarded to the plaintiff in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14557-108349<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14435-108349<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyDamagesAwardedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingencyDamagesSoughtValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value (monetary amount) of the award the plaintiff seeks in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14557-108349<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14435-108349<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyDamagesSoughtValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingencyNameOfDefendant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identifies the named defendant in a lawsuit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14326-108349<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14557-108349<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14435-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyNameOfDefendant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingencyNameOfPlaintiff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identifies the plaintiff in the lawsuit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14557-108349<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14435-108349<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118942415&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyNameOfPlaintiff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allowance for credit loss, of financing receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LitigationStatusAxis=us-gaap_JudicialRulingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LitigationStatusAxis=us-gaap_JudicialRulingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GuaranteeObligationsByNatureAxis=arl_FinancialGuarantee1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GuaranteeObligationsByNatureAxis=arl_FinancialGuarantee1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_EquityMethodInvestee4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_EquityMethodInvestee4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_LitigationCaseAxis=arl_IndividualShareholderMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_LitigationCaseAxis=arl_IndividualShareholderMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_LitigationCaseAxis=arl_ClapperPartiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_LitigationCaseAxis=arl_ClapperPartiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=srt_SubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=srt_SubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_BasicEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_BasicEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6828751936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>OPERATING SEGMENTS (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="12">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Sep. 30, 2019</div></th>
<th class="th"><div>Jun. 30, 2019</div></th>
<th class="th"><div>Mar. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="nump">$ 12,258<span></span>
</td>
<td class="nump">$ 11,943<span></span>
</td>
<td class="nump">$ 11,840<span></span>
</td>
<td class="nump">$ 11,929<span></span>
</td>
<td class="nump">$ 24,857<span></span>
</td>
<td class="nump">$ 33,409<span></span>
</td>
<td class="nump">$ 31,607<span></span>
</td>
<td class="nump">$ 31,083<span></span>
</td>
<td class="nump">$ 31,005<span></span>
</td>
<td class="nump">$ 31,807<span></span>
</td>
<td class="nump">$ 31,587<span></span>
</td>
<td class="nump">$ 31,822<span></span>
</td>
<td class="nump">$ 47,970<span></span>
</td>
<td class="nump">$ 120,956<span></span>
</td>
<td class="nump">$ 126,221<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(25,694)<span></span>
</td>
<td class="num">(59,587)<span></span>
</td>
<td class="num">(64,091)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13,379)<span></span>
</td>
<td class="num">(22,670)<span></span>
</td>
<td class="num">(25,679)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,219)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate', window );">Gain (loss) on the sale of income producing property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,938<span></span>
</td>
<td class="nump">12,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,698<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on land sales</a></td>
<td class="nump">5,400<span></span>
</td>
<td class="nump">5,139<span></span>
</td>
<td class="nump">2,517<span></span>
</td>
<td class="nump">2,216<span></span>
</td>
<td class="nump">3,826<span></span>
</td>
<td class="nump">12,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,335<span></span>
</td>
<td class="nump">3,853<span></span>
</td>
<td class="nump">1,062<span></span>
</td>
<td class="num">(476)<span></span>
</td>
<td class="nump">445<span></span>
</td>
<td class="nump">15,272<span></span>
</td>
<td class="nump">17,404<span></span>
</td>
<td class="nump">4,884<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating (loss) income</a></td>
<td class="num">(3,430)<span></span>
</td>
<td class="num">$ (1,866)<span></span>
</td>
<td class="num">$ (4,377)<span></span>
</td>
<td class="num">$ (1,735)<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="nump">$ 5,210<span></span>
</td>
<td class="nump">$ 3,617<span></span>
</td>
<td class="nump">$ 4,918<span></span>
</td>
<td class="nump">2,713<span></span>
</td>
<td class="nump">$ 5,410<span></span>
</td>
<td class="nump">$ 4,828<span></span>
</td>
<td class="nump">$ 4,477<span></span>
</td>
<td class="num">(11,408)<span></span>
</td>
<td class="nump">13,885<span></span>
</td>
<td class="nump">17,428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate assets</a></td>
<td class="nump">387,790<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">387,790<span></span>
</td>
<td class="nump">381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember', window );">Operating Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47,970<span></span>
</td>
<td class="nump">120,956<span></span>
</td>
<td class="nump">126,221<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(25,694)<span></span>
</td>
<td class="num">(59,587)<span></span>
</td>
<td class="num">(64,091)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13,379)<span></span>
</td>
<td class="num">(22,670)<span></span>
</td>
<td class="num">(25,679)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageAndLoanInterestIncludingCharges', window );">Mortgage and loan interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(39,860)<span></span>
</td>
<td class="num">(66,063)<span></span>
</td>
<td class="num">(66,171)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,219)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeOther', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,955<span></span>
</td>
<td class="nump">21,645<span></span>
</td>
<td class="nump">18,941<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate', window );">Gain (loss) on the sale of income producing property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,698<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on land sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,272<span></span>
</td>
<td class="nump">17,404<span></span>
</td>
<td class="nump">4,884<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating (loss) income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,965<span></span>
</td>
<td class="nump">11,685<span></span>
</td>
<td class="nump">10,803<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromProductiveAssets', window );">Capital expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33,747<span></span>
</td>
<td class="nump">25,199<span></span>
</td>
<td class="num">(3,806)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate assets</a></td>
<td class="nump">477,963<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">988,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">477,963<span></span>
</td>
<td class="nump">381,043<span></span>
</td>
<td class="nump">988,117<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PropertySalesAbstract', window );"><strong>Property Sales</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateSalesPrice', window );">Sales price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33,108<span></span>
</td>
<td class="nump">54,136<span></span>
</td>
<td class="nump">35,019<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateCostOfSales', window );">Cost of sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(17,916)<span></span>
</td>
<td class="num">(36,732)<span></span>
</td>
<td class="num">(26,197)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RecognizedPriorDeferredGain', window );">Recognized prior deferred gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,760<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfProperties', window );">Gain (loss) on sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,192<span></span>
</td>
<td class="nump">17,404<span></span>
</td>
<td class="nump">21,582<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=arl_OtherMember', window );">Other [Member] | Operating Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(779)<span></span>
</td>
<td class="num">(556)<span></span>
</td>
<td class="num">(987)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageAndLoanInterestIncludingCharges', window );">Mortgage and loan interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(27,472)<span></span>
</td>
<td class="num">(37,093)<span></span>
</td>
<td class="num">(34,352)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeOther', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,955<span></span>
</td>
<td class="nump">21,645<span></span>
</td>
<td class="nump">18,941<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating (loss) income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,290)<span></span>
</td>
<td class="num">(15,994)<span></span>
</td>
<td class="num">(16,348)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=arl_LandSegmentsMember', window );">Land [Member] | Operating Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">111<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(735)<span></span>
</td>
<td class="num">(645)<span></span>
</td>
<td class="num">(878)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageAndLoanInterestIncludingCharges', window );">Mortgage and loan interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,301)<span></span>
</td>
<td class="num">(636)<span></span>
</td>
<td class="num">(1,945)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeOther', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,547<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate', window );">Gain (loss) on the sale of income producing property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,884<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on land sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,272<span></span>
</td>
<td class="nump">17,404<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating (loss) income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,236<span></span>
</td>
<td class="nump">16,124<span></span>
</td>
<td class="nump">3,719<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromProductiveAssets', window );">Capital expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,489<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">609<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate assets</a></td>
<td class="nump">70,003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">84,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">123,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,003<span></span>
</td>
<td class="nump">84,529<span></span>
</td>
<td class="nump">123,452<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PropertySalesAbstract', window );"><strong>Property Sales</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateSalesPrice', window );">Sales price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,012<span></span>
</td>
<td class="nump">43,311<span></span>
</td>
<td class="nump">29,969<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateCostOfSales', window );">Cost of sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(14,740)<span></span>
</td>
<td class="num">(25,907)<span></span>
</td>
<td class="num">(23,538)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfProperties', window );">Gain (loss) on sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,272<span></span>
</td>
<td class="nump">17,404<span></span>
</td>
<td class="nump">6,431<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=arl_ApartmentsSegmentsMember', window );">Apartments [Member] | Operating Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,257<span></span>
</td>
<td class="nump">87,832<span></span>
</td>
<td class="nump">92,807<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,375)<span></span>
</td>
<td class="num">(42,134)<span></span>
</td>
<td class="num">(43,677)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,150)<span></span>
</td>
<td class="num">(13,140)<span></span>
</td>
<td class="num">(16,354)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageAndLoanInterestIncludingCharges', window );">Mortgage and loan interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,069)<span></span>
</td>
<td class="num">(20,671)<span></span>
</td>
<td class="num">(22,347)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate', window );">Gain (loss) on the sale of income producing property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,760<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating (loss) income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(417)<span></span>
</td>
<td class="nump">11,887<span></span>
</td>
<td class="nump">23,189<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromProductiveAssets', window );">Capital expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,001<span></span>
</td>
<td class="nump">16,953<span></span>
</td>
<td class="nump">1,402<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate assets</a></td>
<td class="nump">178,536<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">727,508<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">178,536<span></span>
</td>
<td class="nump">143,500<span></span>
</td>
<td class="nump">727,508<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PropertySalesAbstract', window );"><strong>Property Sales</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateSalesPrice', window );">Sales price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,096<span></span>
</td>
<td class="nump">8,512<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateCostOfSales', window );">Cost of sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,176)<span></span>
</td>
<td class="num">(8,512)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RecognizedPriorDeferredGain', window );">Recognized prior deferred gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,760<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfProperties', window );">Gain (loss) on sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,760<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=arl_CommercialSegmentsMember', window );">Commercial Properties [Member] | Operating Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,707<span></span>
</td>
<td class="nump">33,113<span></span>
</td>
<td class="nump">33,286<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,805)<span></span>
</td>
<td class="num">(16,252)<span></span>
</td>
<td class="num">(18,549)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,229)<span></span>
</td>
<td class="num">(9,530)<span></span>
</td>
<td class="num">(9,358)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageAndLoanInterestIncludingCharges', window );">Mortgage and loan interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,018)<span></span>
</td>
<td class="num">(7,663)<span></span>
</td>
<td class="num">(7,527)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,219)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeOther', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,391<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating (loss) income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,564)<span></span>
</td>
<td class="num">(332)<span></span>
</td>
<td class="nump">243<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromProductiveAssets', window );">Capital expenditures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,257<span></span>
</td>
<td class="nump">8,246<span></span>
</td>
<td class="num">(5,817)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate assets</a></td>
<td class="nump">$ 229,424<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 153,014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 137,157<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 229,424<span></span>
</td>
<td class="nump">153,014<span></span>
</td>
<td class="nump">137,157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PropertySalesAbstract', window );"><strong>Property Sales</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateSalesPrice', window );">Sales price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,313<span></span>
</td>
<td class="nump">5,050<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateCostOfSales', window );">Cost of sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (2,313)<span></span>
</td>
<td class="num">(2,659)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfProperties', window );">Gain (loss) on sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,391<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_GainLossOnLandSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of gain (loss) on sale of land during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_GainLossOnLandSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MortgageAndLoanInterestIncludingCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt including loan charges and prepayment penalities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageAndLoanInterestIncludingCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PropertySalesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PropertySalesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cost of sales of real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateSalesPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The selling of price of real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateSalesPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RecognizedPriorDeferredGain">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents information related to recognized prior deferred gain.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RecognizedPriorDeferredGain</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense incurred and directly related to generating revenue from leased and rented property or equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109226691&amp;loc=d3e2941-110230<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2443-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=117329964&amp;loc=d3e12355-112629<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117329964&amp;loc=d3e12317-112629<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=117337411&amp;loc=d3e23528-158515<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(14)(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23439-158514<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23415-158514<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnSalesOfInvestmentRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestIncomeOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest income earned from interest bearing assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForProceedsFromProductiveAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net cash outflow or inflow from purchases, sales and disposals of property, plant and equipment and other productive assets, including intangibles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForProceedsFromProductiveAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
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<td></td>
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<tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=arl_OtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=arl_OtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=arl_LandSegmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=arl_ApartmentsSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
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<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=arl_CommercialSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=arl_CommercialSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6972293840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 477,963<span></span>
</td>
<td class="nump">$ 459,142<span></span>
</td>
<td class="nump">$ 1,165,662<span></span>
</td>
<td class="nump">$ 1,066,603<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">90,173<span></span>
</td>
<td class="nump">$ 78,099<span></span>
</td>
<td class="nump">$ 177,546<span></span>
</td>
<td class="nump">$ 165,597<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">236,685<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">136,552<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">284,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">88,386<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(31,064)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">136,552<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">341,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">477,963<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">90,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Dominion Tract, Farmers Branch [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">2,440<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(135)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">2,440<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="num">(24)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 2,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Dominion Tract, Farmers Branch [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">3/99<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Dedeaux, Gulfport [Member] | MISSISSIPPI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 1,612<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">46<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(38)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,612<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 1,620<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">10/06<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Gautier Land, Gautier [Member] | MISSISSIPPI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 202<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">202<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 202<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">07/98<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Lake Shore Villas, Humble [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 84<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">03/02<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Lubbock Land, Lubbock [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">01/04<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Ocean Estates, Gulfport [Member] | MISSISSIPPI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 1,418<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,418<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 1,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">10/07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Union Pacific Railroad Land, Dallas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">03/04<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Willowick Land, Pensacola [Member] | FLORIDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">01/95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Windmill Farms Land, Kaufman County [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">11/11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Windmill Farms Land, Kaufman County [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 13,861<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">55,668<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">13,913<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(20,343)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">55,668<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="num">(6,430)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">49,238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | T Palm Desert, Riverside [Member] | CANADA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">9/19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Lacy Longhorn Land, Farmers Branch [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">06/04<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Lacy Longhorn Land, Farmers Branch [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 1,169<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="num">(760)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,169<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="num">(760)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">409<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Minivest Land, Dallas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">04/13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Nicholson Croslin, Dallas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">10/98<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Nicholson Croslin, Dallas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 184<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="num">(118)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">184<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="num">(118)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 66<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Nicholson Mendoza, Dallas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">10/98<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Nicholson Mendoza, Dallas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="num">(51)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="num">(51)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">29<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Mercer Crossing, Farmers Branch [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">10,966<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="nump">10,966<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">$ 10,966<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">1/08<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | McKinney 36, Collin County [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 945<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(19)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">01/98<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member] | Travis Ranch Land, Kaufman County [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">08/08<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 120,024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">15,981<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">135,766<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">4,426<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">15,981<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">140,192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">156,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">10,562<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Legacy at Pleasant Grove, Texarkana [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">13,944<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">2,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">17,892<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">2,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">18,109<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">20,114<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 2,289<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">12/14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Toulon, Gautier [Member] | MISSISSIPPI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 19,575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">1,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">20,107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">372<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">20,479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">22,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 4,273<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">09/09<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Villager, Ft. Walton [Member] | FLORIDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 672<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">1,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">1,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">1,408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 148<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">1972<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">06/15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Villas at Bon Secour, Gulf Shores [Member] | ALABAMA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 11,212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">2,715<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">15,385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">2,715<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">15,385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">18,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">07/18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Vista Ridge, Tupelo [Member] | MISSISSIPPI</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 10,252<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">1,339<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">13,398<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,339<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">13,398<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">14,737<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 1,893<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">2009<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">10/15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Chelsea, Beaumont [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 8,794<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">1,225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">11,025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">11,185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">12,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 303<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">1999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">11/18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Landing, Houma [Member] | LOUISIANA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 15,484<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">2,012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">18,115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">2,012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">18,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">20,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 491<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">2005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">12/18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Farnham Park, Port Aurther [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 9,183<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">1,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">9,086<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">144<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">9,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">10,240<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">1999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">11/18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Properties Held for Investment Apartments [Member] | Parc at Denham Springs Phase II, Denham Springs [Member] | LOUISIANA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 15,079<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">1,502<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">12,486<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">3,508<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,502<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">15,994<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">17,496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">2010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">11/9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Apartments Under Construction [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 9,017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">10,195<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">12,168<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">10,195<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">12,168<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">22,363<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Apartments Under Construction [Member] | Overlook at Allensville Square II, Sevierville [Member] | TENNESSEE</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">15,829<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">2,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">17,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">2,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">17,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">19,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 319<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">2012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">11/15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Apartments Under Construction [Member] | Forest Pines [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 5,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">301<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">5,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">301<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">5,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Apartments Under Construction [Member] | Sugar Mill III, Addis [Member] | LOUISIANA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">6,302<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">576<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">7,023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">576<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">7,023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 7,599<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">11/15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Apartments Under Construction [Member] | McKinney Apts at Heritage, McKinney [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 2,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">89<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">2,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">89<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 2,570<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">6/17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Apartments Under Construction [Member] | Forest Pines Phase II (Forest Grove), Bryan [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 1,560<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">4,674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">4,674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 4,674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">4/19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Apartments Under Construction [Member] | LD Athens Lindsay Ln, Athens [Member] | LOUISIANA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 1,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">2,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">2,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 2,179<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">9/19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 92,838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">33,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">148,323<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">57,168<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(9,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">33,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">195,891<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">229,424<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">79,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member] | 600 Las Colinass, Las Colinas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">37,215<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">5,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">51,759<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">20,143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">5,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">71,902<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">77,653<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 32,858<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">1984<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">08/05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member] | 770 South Post Oak, Houston [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 12,178<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">1,763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">15,834<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">1,763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">16,531<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">18,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 2,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">1970<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">07/15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member] | Bridgeview Plaza, LaCrosse [Member] | WISCONSIN</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 3,908<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">1,207<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">1,207<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">1,207<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">1979<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">03/03<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member] | Browning Place (Park West I), Farmers Branch [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 5,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">45,868<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">26,645<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">5,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">72,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">77,609<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 29,867<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2', window );">Date of Construction</a></td>
<td class="text">1984<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">04/05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member] | Fruitland Plaza, Fruitland Park [Member] | FLORIDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">83<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">83<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 71<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">05/92<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member] | Senlac VHP, Farmers Branch [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">$ 622<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">622<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">08/05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Commercial Held for Investment [Member] | Stanford Center, Dallas [Member] | TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 39,537<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">20,278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements', window );">Initial Cost Building &amp; Improvements</a></td>
<td class="nump">34,862<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">8,251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(9,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">20,278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="nump">33,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">53,791<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Accumulated Depreciation</a></td>
<td class="nump">$ 13,752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired', window );">Date Acquired</a></td>
<td class="text">06/08<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Life on Which Depreciation In Latest Statement of Operation is Computed</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember', window );">Properties Held for Investment/Corporate Debt [Member] | Land Held for Investment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances', window );">Encumbrances</a></td>
<td class="nump">$ 14,806<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand', window );">Initial Cost Land</a></td>
<td class="nump">76,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements', window );">Cost Capitalized Subsequent to Acquisition Improvements</a></td>
<td class="nump">14,624<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges', window );">Asset Impairment</a></td>
<td class="num">(21,464)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand', window );">Gross Amounts of Which Carried at End of Year Land</a></td>
<td class="nump">76,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements', window );">Gross Amounts of Which Carried at End of Year Building &amp; Improvements</a></td>
<td class="num">(6,840)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Gross Amounts of Which Carried at End of Year Total</a></td>
<td class="nump">$ 70,003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents s a real estate and accumulated depreciation asset impairment charges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateAndAccumulatedDepreciationAssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateAndAccumulatedDepreciationDateAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a real estate and accumulated depreciation date acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateAndAccumulatedDepreciationDateAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a real estate and accumulated depreciation date of construction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateAndAccumulatedDepreciationDateOfConstruction2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lien or mortgage outstanding on real estate investment properties for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column B<br> -Subsection 28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column B))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation pertaining to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column F))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of buildings and improvements for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column E))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of land for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column E))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of land and buildings and improvements made to real estate investments and capitalized after acquisition for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column D))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Initial cost of buildings and improvements for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column C))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Initial cost of land for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column C))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateGrossAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before accumulated depreciation, of real estate investment by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Excludes real estate not held as investment or interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column E))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateGrossAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageLoansOnRealEstateDescriptionTypeOfPropertyCategoryAxis=arl_PropertiesHeldforInvestmentCorporateDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_LandHeldforInvestmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_LandHeldforInvestmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_DominionTractFarmersBranchTXAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_DominionTractFarmersBranchTXAdjustmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=stpr_TX">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=stpr_TX</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_DominionTractFarmersBranchTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_DominionTractFarmersBranchTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_DedeauxGulfportMSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_DedeauxGulfportMSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_MS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_MS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_GautierLandGautierMSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_GautierLandGautierMSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LakeShoreVillasHumbleTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LakeShoreVillasHumbleTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LubbockLandLubbockTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LubbockLandLubbockTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_OceanEstatesGulfportMSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_OceanEstatesGulfportMSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_UnionPacificRailroadLandDallasTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_UnionPacificRailroadLandDallasTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_WillowickLandPensacolaFLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_WillowickLandPensacolaFLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=stpr_FL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=stpr_FL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_WindmillFarmsLandKaufmanCountyTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_WindmillFarmsLandKaufmanCountyTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_WindmillFarmsLandKaufmanCountyTXAdjustmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_TPalmDesertRiversideMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_TPalmDesertRiversideMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_CA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_CA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LacyLonghornLandFarmersBranchTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LacyLonghornLandFarmersBranchTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LacyLonghornLandFarmersBranchTXAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LacyLonghornLandFarmersBranchTXAdjustmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_MinivestLandDallasTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_MinivestLandDallasTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonCroslinDallasTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonCroslinDallasTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonCroslinDallasTXAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonCroslinDallasTXAdjustmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonMendozaDallasTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonMendozaDallasTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonMendozaDallasTXAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_NicholsonMendozaDallasTXAdjustmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_MercerCrossingFarmersBranchMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_MercerCrossingFarmersBranchMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_McKinney36CollinCountyTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_McKinney36CollinCountyTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_TravisRanchLandKaufmanCountyTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_TravisRanchLandKaufmanCountyTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_PropertiesHeldforInvestmentApartmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_PropertiesHeldforInvestmentApartmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LegacyatPleasantGroveTexarkanaTXMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LegacyatPleasantGroveTexarkanaTXMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ToulonGautierMSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ToulonGautierMSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_VillagerFt.WaltonFLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_VillagerFt.WaltonFLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_VillasAtBonSecourGulfShoresMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_VillasAtBonSecourGulfShoresMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_AL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_AL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_VistaRidgeTupeloMSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_VistaRidgeTupeloMSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ChelseaBeaumontMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ChelseaBeaumontMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LandingHoumaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_LandingHoumaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_LA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_LA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_FarnhamParkPortAurtherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_FarnhamParkPortAurtherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ParcAtDenhamSpringsPhaseIIDenhamSpringsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=stpr_LA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=stpr_LA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_ApartmentsUnderConstructionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_ApartmentsUnderConstructionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_OverlookAtAllensvilleSquareIISeviervilleTNMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_OverlookAtAllensvilleSquareIISeviervilleTNMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_TN">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_TN</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ForestPinesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_ForestPinesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_SugarMillIIMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_McKinneyAptsAtHeritageMcKinneyMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_BrowningPlaceParkWestIFarmersBranchTXMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_SenlacVHPFarmersBranchTXMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
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<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=arl_StanfordCenterDallasTXMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6829211936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="4">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate', window );">Income Tax Expense (Benefit) at Federal Statutory Rate</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text"> <span></span>
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<td class="nump">$ 31,739<span></span>
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<td class="num">$ (3,044)<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes', window );">State and Local Income Taxes Net of Federal Tax Benefit</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,566)<span></span>
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<td class="nump">1,210<span></span>
</td>
<td class="nump">180<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther', window );">Permanent differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,499)<span></span>
</td>
<td class="num">(224)<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_TimingDifferencesAbstract', window );"><strong>Timing differences</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationDispositionOfAssets', window );">Installment note on land sale</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,875)<span></span>
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<td class="num">(1,918)<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationOtherReconcilingItems', window );">Allowance for losses on notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(246)<span></span>
</td>
<td class="num">(712)<span></span>
</td>
<td class="num">(2,372)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DeferredGains', window );">Deffered gains</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,920)<span></span>
</td>
<td class="num">(7,041)<span></span>
</td>
<td class="num">(10,758)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationOtherAdjustments', window );">Basis difference on fixed assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">22,110<span></span>
</td>
<td class="nump">9,284<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_OtherBasisTimingDifferences', window );">Other basis/timing differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,172<span></span>
</td>
<td class="num">(766)<span></span>
</td>
<td class="nump">5,764<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_UseGenerationOfNetOperatingLossCarryforwards', window );">Generation (use) of net operating loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,059<span></span>
</td>
<td class="num">(42,231)<span></span>
</td>
<td class="nump">3,044<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Reported Income Tax Expense</a></td>
<td class="num">$ (418)<span></span>
</td>
<td class="num">$ (418)<span></span>
</td>
<td class="num">$ (792)<span></span>
</td>
<td class="num">$ (180)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,210<span></span>
</td>
<td class="nump">$ 180<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective Tax Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DeferredGains">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to deferred gains.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DeferredGains</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_OtherBasisTimingDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other basis timing differences.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_OtherBasisTimingDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_TimingDifferencesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_TimingDifferencesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_UseGenerationOfNetOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to operating loss carry forwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_UseGenerationOfNetOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationDispositionOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying domestic federal statutory income tax rates to pretax income (loss) from continuing operations, attributable to disposition of asset. Includes, but is not limited to, intra-entity transfer of asset other than inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationDispositionOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other nondeductible expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationOtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationOtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810790400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
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<td class="text"><table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin: 0px">
<tr style="vertical-align: top">
    <td style="width: 60pt"><b>NOTE 1.</b></td>
    <td style="text-align: justify"><b><i>ORGANIZATION
    AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</i></b></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Organization
and business.</i></b><i>&#160;&#160;&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company, a Nevada corporation that was formed in 1999, is headquartered in Dallas, Texas and its common stock trades on the New
York Stock Exchange (&#8220;NYSE American&#8221;) under the symbol &#8220;ARL&#8221;. Over 80% of ARL&#8217;s stock is owned by
related party entities. ARL and a subsidiary own approximately 78.38% of the outstanding shares of common stock of Transcontinental
Realty Investors, Inc. &#8220;TCI&#8221;, a Nevada corporation, whose common stock is traded on the NYSE American under the symbol
&#8220;TCI&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">TCI,
a subsidiary of ARL, owns approximately 81.23% of the common stock of Income Opportunity Realty Investors, Inc. &#8220;IOR&#8221;.
Effective July 17, 2009, IOR&#8217;s financial results were consolidated with those of ARL and TCI and their subsidiaries. IOR&#8217;s
common stock is traded on the New York Stock Exchange (&#8220;NYSE American&#8221;) under the symbol &#8220;IOR&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ARL&#8217;s
Board of Directors are responsible for directing the overall affairs of ARL and for setting the strategic policies that guide
the Company. As of April 30, 2011, the Board of Directors delegated the day-to-day management of the Company to Pillar Income
Asset Management, Inc. (&#8220;Pillar&#8221;), a Nevada corporation, under a written Advisory Agreement that is reviewed annually
by ARL&#8217;s Board of Directors. The directors of ARL are also directors of TCI and IOR. The Chairman of the Board of Directors
of ARL also serves as the Chairman of the Board of Directors of TCI and IOR. The officers of ARL also serve as officers of TCI,
IOR and Pillar.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since
April 30, 2011, Pillar, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member
of which is Realty Advisors, Inc. &#8220;RAI&#8221;, a Nevada corporation, the sole shareholder of which is May Realty Holdings,
Inc. (&#8220;MRHI&#8221;, formerly known as Realty Advisors Management, Inc. &#8220;RAMI&#8221;, effective August 7, 2014), a
Nevada corporation, the sole shareholder of which is a trust known as the May Trust, became the Company&#8217;s external Advisor
and Cash Manager.&#160; Pillar&#8217;s duties include, but are not limited to, locating, evaluating and recommending real estate
and real estate-related investment opportunities. Pillar also arranges, for the Company&#8217;s benefit, debt and equity financing
with third party lenders and investors. Pillar also serves as an Advisor and Cash Manager to TCI and IOR.&#160; As the contractual
advisor, Pillar is compensated by ARL under an Advisory Agreement that is more fully described in Part III, Item&#160;10. &#8220;Directors,
Executive Officers and Corporate Governance &#8211; The Advisor&#8221;.&#160; ARL has no employees. Employees of Pillar render
services to ARL in accordance with the terms of the Advisory Agreement.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Regis
Realty Prime, LLC, dba Regis Property Management, LLC (&#8220;Regis&#8221;), the sole member of which is Realty Advisors, LLC,
manages our commercial and provides brokerage services. Regis receives property management fees and leasing commissions in accordance
with the terms of its property-level management agreement. Regis is also entitled to receive real estate brokerage commissions
in accordance with the terms of a non-exclusive brokerage agreement. See Part III, Item&#160;10. &#8220;Directors, Executive Officers
and Corporate Governance &#8211; Property Management and Real Estate Brokerage&#8221;. ARL engages third-party companies to lease
and manage its apartment properties.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
January 1, 2012, the Company&#8217;s subsidiary, TCI, entered into a development agreement with Unified Housing Foundation, Inc.
&#8220;UHF&#8221; a non-profit corporation that provides management services for the development of residential apartment projects
in the future. This development agreement was terminated December 31, 2013. The Company has also invested in surplus cash notes
receivables from UHF and has sold several residential apartment properties to UHF in prior years. Due to this ongoing relationship
and the significant investment in the performance of the collateral secured under the notes receivable, UHF has been determined
to be a related party.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Southern
Properties Capital Ltd. a British Virgin Island corporation (&#8220;Southern&#8221; or &#8220;SPC&#8221;), is a wholly owned subsidiary
of TCI that was incorporated on August 16, 2016 for the purpose of raising funds by issuing debentures that cannot be converted
into shares on the Tel-Aviv Stock Exchange (&#8220;TASE&#8221;). Southern operates in the United States and is primarily involved
in investing in, developing, constructing and operating income-producing properties of multi-family residential real estate assets.
Southern is included in the consolidated financial statements of TCI.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
November 19, 2018, we executed an agreement between the Macquarie Group (&#8220;Macquarie&#8221;) and Southern and TCI to create
a joint venture, Victory Abode Apartments, LLC (&#8220;VAA&#8221;) to address existing and future demand for quality multifamily
residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary
markets. In connection with the formation of the joint venture, Southern and TCI contributed a portfolio of 49 income producing
apartment complexes, and 3 development projects in various stages of construction and received cash consideration of $236.8 million.
At the time of the transfer of the properties, the joint venture assumed all liabilities of those properties, including mortgage
debt to the Department of Housing and Urban Development (&#8220;HUD&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">VAA
is equally owned and controlled by Abode JVP, LLC, a wholly-owned subsidiary of SPC and Summerset Intermediate Holdings 2 LLC
(&#8220;Summerset&#8221;), a wholly-owned indirect subsidiary of Macquarie.&#160; Pursuant to the Agreement, Abode JVP, LLC and
Summerset each own voting and profit participation rights of 50% and 49%, respectively (&#8220;Class A Members&#8221;).&#160;
The remaining 2% of the profits interest is held by Daniel J. Moos, who serves as the President and Chief Executive officer of
the Company (&#8220;Class B Member&#8221;) and Manager of the joint venture.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our primary business is the acquisition, development and ownership of income-producing residential and commercial real estate properties. In addition, we opportunistically acquire land for future development in in-fill or high-growth suburban markets. From time to time and when we believe it appropriate to do so, we will also sell land and income-producing properties. We generate revenues by leasing apartment units to residents, and leasing office and retail space to various for-profit businesses as well as certain local, state and federal agencies. We also generate revenues from gains on sales of income-producing properties and land. At December 31, 2019, we owned through our wholly owned subsidiaries ten residential apartment communities comprising of 1,657 units, seven commercial properties comprising an aggregate of approximately 1.7 million rentable square feet, and an investment in 1,951 acres of undeveloped and partially developed land. In addition, our joint venture VAA owns&#160;fifty-one&#160;residential apartment communities comprised of 9,888 units.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Basis
of presentation.</i></b><i>&#160;&#160;&#160;&#160;</i>The Company presents its financial statements in accordance with generally
accepted accounting principles in the United States (&#8220;GAAP&#8221;). The accompanying Consolidated Financial Statements include
our accounts, our subsidiaries, generally all of which are wholly-owned, and all entities in which we have a controlling interest.
Arrangements that are not controlled through voting or similar rights are accounted for as a Variable Interest Entity (VIE), in
accordance with the provisions and guidance of ASC Topic 810 &#8220;Consolidation&#8221;, whereby we have determined that we are
a primary beneficiary of the VIE and meet certain criteria of a sole general partner or managing member as identified in accordance
with Emerging Issues Task Force (&#8220;EITF&#8221;) Issue 04-5, Investor&#8217;s Accounting for an Investment in a Limited Partnership
when the Investor is the Sole General Partner and the Limited Partners have Certain Rights (&#8220;EITF 04-5&#8221;). VIEs are
generally entities that lack sufficient equity to finance their activities without additional financial support from other parties
or whose equity holders as a group lack adequate decision making ability, the obligation to absorb expected losses or residual
returns of the entity, or have voting rights that are not proportional to their economic interests. The primary beneficiary generally
is the entity that provides financial support and bears a majority of the financial risks, authorizes certain capital transactions,
or makes operating decisions that materially affect the entity&#8217;s financial results. All significant intercompany balances
and transactions have been eliminated in consolidation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including, but
not limited to: the amount and characteristics of our investment; the obligation or likelihood for us or other investors to provide
financial support; our and the other investors&#8217; ability to control or significantly influence key decisions for the VIE;
and the similarity with and significance to the business activities of us and the other investors. Significant judgments related
to these determinations include estimates about the current future fair values and performance of real estate held by these VIEs
and general market conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For
entities in which we have less than a controlling financial interest or entities where it is not deemed to be the primary beneficiary,
the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of
these entities is included in consolidated net income. Our investment in Gruppa Florentina, LLC is accounted for under the equity
method.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company in accordance with the VIE guidance in ASC 810 &#8220;Consolidations&#8221; consolidates ten multifamily residential properties
at December 31, 2019 and&#160;nine at December 31, 2018, located throughout the United States ranging from 1,657 units to 1,489
units.&#160; Assets totaling approximately $478&#160;million and approximately $464 million at December 31, 2019 and 2018, respectively,&#160;are
consolidated and included in &#8220;Real estate, at cost&#8221; on the balance sheet and are all collateral for their respective
mortgage notes payable, none of which are recourse to the partnership in which they are in or to the Company.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Real
estate, depreciation, and impairment</i>.</b><i>&#160;&#160;&#160;&#160;</i>Real estate assets are stated at the lower of depreciated
cost or fair value, if deemed impaired. Major replacements and betterments are capitalized and depreciated over their estimated
useful lives. Depreciation is computed on a straight-line basis over the useful lives of the properties (buildings and improvements&#8212;10-40
years; furniture, fixtures and equipment&#8212;5-10 years). We continually evaluate the recoverability of the carrying value of
its real estate assets using the methodology prescribed in ASC Topic 360, &#8220;Property, Plant and Equipment,&#8221; Factors
considered by management in evaluating impairment of its existing real estate assets held for investment include significant declines
in property operating profits, annually recurring property operating losses and other significant adverse changes in general market
conditions that are considered permanent in nature. Under ASC Topic 360, a real estate asset held for investment is not considered
impaired if the undiscounted, estimated future cash flows of an asset (both the annual estimated cash flow from future operations
and the estimated cash flow from the theoretical sale of the asset) over its estimated holding period are in excess of the asset&#8217;s
net book value at the balance sheet date. If any real estate asset held for investment is considered impaired, a loss is provided
to reduce the carrying value of the asset to its estimated fair value.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any
properties that are treated as &#8220;subject to sales contract&#8221; on the Consolidated Balance Sheets and are listed in detail
in Schedule III, &#8220;Real Estate and Accumulated Depreciation&#8221; are those in which we have not recognized the legal sale
according to the guidance in ASC 360-20 due to various factors, disclosed in each sale transaction under Item 1 Significant Real
Estate Acquisitions/Dispositions and Financing. Any sale transaction where the guidance reflects that a sale had not occurred,
the asset involved in the transaction, including the debt and property operations, remained on the books of the Company. We continue
to charge depreciation to expense as a period costs for the property until such time as the property has been classified as held
for sale in accordance with guidance reflected in ASC 360-10-45 &#8220;Impairment or Disposal of Long-Lived Assets&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Real
estate held for sale</i>.</b><i>&#160;&#160;</i>We classify properties as held for sale when certain criteria are met in accordance
with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance
sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported
at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. We did not have any real estate
assets classified as held for sale at December 31, 2019 or 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective
as of January 1, 2015, we adopted the revised guidance in Accounting Standards Update No.&#160;2014-08 regarding discontinued
operations. For sales of real estate or assets classified as held for sale after January 1, 2015, we will evaluate whether a disposal
transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine
if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued
operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as
discontinued operations for all periods presented; if not, it will be presented in continuing operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any
properties that are treated as &#8220;subject to sales contract&#8221; on the Consolidated Balance Sheets and are listed in detail
in Schedule III, &#8220;Real Estate and Accumulated Depreciation&#8221; are those in which we have not recognized the legal sale
according to the guidance in ASC 360-20 due to various factors, disclosed in Item 1 &#8220;Significant Real Estate Acquisitions/Dispositions
and Financing.&#8221; Any sale transaction where the guidance reflects that a sale had not occurred, the asset involved in the
transaction, including the debt, if appropriate, and property operations, remained on the books of the Company. We continue to
charge depreciation to expense as a period costs for the property until such time as the property has been classified as held
for sale in accordance with guidance reflected in ASC 360-10-45 &#8220;Impairment or Disposal of Long-Lived Assets.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Cost
capitalization</i>.</b>&#160;&#160;&#160;&#160; The cost of buildings and improvements includes the purchase price of property,
legal fees and other acquisition costs. Costs directly related to planning, developing, initial leasing and constructing a property
are capitalized and classified as Real Estate in the Consolidated Balance Sheets. Capitalized development costs include interest,
property taxes, insurance, and other direct project costs incurred during the period of development.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A
variety of costs are incurred in the acquisition, development and leasing of properties. After determination is made to capitalize
a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project
is substantially complete and capitalization must cease involves a degree of judgment. Our capitalization policy on development
properties is guided by ASC Topic 835-20 &#8220;Interest &#8211; Capitalization of Interest&#8221; and ASC Topic 970 &#8220;Real
Estate - General&#8221;. The costs of land and buildings under development include specifically identifiable costs. The capitalized
costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest
costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a
construction project as substantially completed and held available for occupancy upon the receipt of certificates of occupancy,
but no later than one year from cessation of major construction activity. We cease capitalization on the portion (1)&#160;substantially
completed and (2)&#160;occupied or held available for occupancy, and we capitalize only those costs associated with the portion
under construction.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We
capitalize leasing costs which include commissions paid to outside brokers, legal costs incurred to negotiate and document a lease
agreement and any internal costs that may be applicable. We allocate these costs to individual tenant leases and amortize them
over the related lease term.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Fair
value measurement</i></b><i>.&#160;&#160;&#160;&#160;</i>We apply the guidance in ASC Topic 820, &#8220;Fair Value Measurements
and Disclosures,&#8221; to the valuation of real estate assets. These provisions define fair value as the price that would be
received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date,
establish a hierarchy that prioritizes the information used in developing fair value estimates and require disclosure of fair
value measurements by level within the fair value hierarchy. The hierarchy gives the highest priority to quoted prices in active
markets (Level 1 measurements) and the lowest priority to unobservable data (Level 3 measurements), such as the reporting entity&#8217;s
own data.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date
and includes three levels defined as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

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<tr style="vertical-align: top">
    <td style="white-space: nowrap">Level&#160;2</td>
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    or indirectly, for substantially the full term of the financial instrument.</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap">Level&#160;3</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A
financial instrument&#8217;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant
to the fair value measurement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Related
parties</i>.&#160;&#160;</b>We apply ASC Topic 805, &#8220;Business Combinations&#8221;, to evaluate business relationships. Related
parties are persons or entities who have one or more of the following characteristics, which include entities for which investments
in their equity securities would be required, trust for the benefit of persons including principal owners of the entities and
members of their immediate families, management personnel of the entity and members of their immediate families and other parties
with which the entity may deal if one party controls or can significantly influence the decision making of the other to an extent
that one of the transacting parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Recognition
of revenue.</i></b><i>&#160;&#160;&#160;&#160;</i>Our revenues, which are composed largely of rental income, include rents reported
on a straight-line basis over the lease term. In accordance with ASC 805 &#8220;Business Combinations&#8221;, we recognize rental
revenue of acquired in-place &#8220;above-&#8221; and &#8220;below-market&#8221; leases at their fair values over the terms of
the respective leases.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Reimbursements
of operating costs, as allowed under most of our commercial tenant leases, consist of amounts due from tenants for common area
maintenance, real estate taxes and other recoverable costs, and are recognized as revenue in the period in which the recoverable
expenses are incurred. We record these reimbursements on a &#8220;gross&#8221; basis, since we generally are the primary obligor
with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier and have the
credit risk with respect to paying the supplier.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Rental
income for residential property leases is recorded when due from residents and is recognized monthly as earned, which is not materially
different than on a straight-line basis as lease terms are generally for periods of one year or less. For hotel properties, revenues
for room sales and guest services are recognized as rooms occupied and services rendered. An allowance for doubtful accounts is
recorded for all past due rents and operating expense reimbursements considered to be uncollectible.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sales
and the associated gains or losses of real estate assets are recognized in accordance with the provisions of ASC Topic 360-20,
&#8220;Property, Plant and Equipment &#8211; Real Estate Sale&#8221;. The specific timing of a sale is measured against various
criteria in ASC 360-20 related to the terms of the transaction and any continuing involvement in the form of management or financial
assistance associated with the properties. If the sales criteria for the full accrual method are not met, the Company defers some
or all of the gain recognition and accounts for the continued operations of the property by applying the finance, leasing, deposit,
installment or cost recovery methods, as appropriate, until the sales criteria are met.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Foreign
currency translation.</i></b><i>&#160;&#160;&#160;</i>Foreign currency denominated assets and liabilities of subsidiaries with
local functional currencies are translated to United States dollars at year-end exchange rates. The effects of translation are
recorded in the cumulative translation component of shareholders&#8217; equity. Subsidiaries with a United States dollar functional
currency re-measure monetary assets and liabilities at year-end exchange rates and non-monetary assets and liabilities at historical
exchange rates. The effects of re-measurement are included in income. Exchange gains and losses arising from transactions denominated
in foreign currencies are translated at average exchange rates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Non-performing
notes receivable.</i></b><i>&#160;&#160;</i>ARL considers a note receivable to be non-performing when the maturity date has passed
without principal repayment and the borrower is not making interest payments in accordance with the terms of the agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Interest
recognition on notes receivable.&#160;&#160;</i></b>We record interest income as earned in accordance with the terms of the related
loan agreements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Allowance
for estimated losses.</i></b><i>&#160;&#160;</i>We assess the collectability of notes receivable on a periodic basis, of which
the assessment consists primarily of an evaluation of cash flow projections of the borrower to determine whether estimated cash
flows are sufficient to repay principal and interest in accordance with the contractual terms of the note. We recognize impairments
on notes receivable when it is probable that principal and interest will not be received in accordance with the contractual terms
of the loan. The amount of the impairment to be recognized generally is based on the fair value of the partnership&#8217;s real
estate that represents the primary source of loan repayment. See Note 5 &#8220;Notes and Interest Receivable&#8221; for details
on our notes receivable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Cash
equivalents.</i></b><i>&#160;&#160;&#160;</i>For purposes of the Consolidated Statements of Cash Flows, all highly liquid investments
purchased with an original maturity of three months or less are considered to be cash equivalents.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Restricted
cash.&#160;&#160;</i></b>Restricted cash is comprised primarily of cash balances held in escrow by financial institutions under
the terms of certain secured notes payable and certain unsecured bonds payable.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Concentration
of credit risk.</i></b><i>&#160;</i>The Company maintains its cash balances at commercial banks and through investment companies,
the deposits of which are insured by the Federal Deposit Insurance Corporation (FDIC). At December 31, 2019 and 2018, the Company
maintained balances in excess of the insured amount.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Earnings
per share.</i></b><i>&#160;&#160;&#160;</i>Income (loss) per share is presented in accordance with ASC 620 &#8220;Earnings per
Share&#8221;. Income (loss) per share is computed based upon the weighted average number of shares of common stock outstanding
during each year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Use
of estimates.</i></b><i>&#160;&#160;&#160;&#160;</i>In the preparation of Consolidated Financial Statements in conformity with
GAAP, it is necessary for management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts
of revenues and expense for the year ended. Actual results could differ from those estimates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Income
taxes.</i></b><i>&#160;&#160;&#160;</i>The Company is a &#8220;C&#8221; corporation for U.S. federal income tax purposes. For
tax periods ending before August 31, 2012, the Company filed an annual consolidated income tax return with TCI and IOR and their
subsidiaries. ARL was the common parent for the consolidated group. After that date, the Company and the rest of the ARL group
joined the MRHI consolidated group for tax purposes. The income tax expense (benefit) for the 2012 tax period in the accompanying
financial statement was calculated under a tax sharing and compensating agreement between ARL, TCI and IOR. That agreement continued
until August 31, 2012, at which time a new tax sharing and compensating agreement was entered into by ARL, TCI, IOR and MRHI for
the remainder of 2012 and subsequent years. The agreement specifies the manner in which the group will share the consolidated
tax liability and also how certain tax attributes are to be treated among members of the group.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Recent
accounting pronouncements</i></b><i>.</i>&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">In
December 2019, the FASB issued ASU 2019-12,&#160;<i>Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.&#160;</i>The
amendments in this Update simplify the accounting for income taxes by removing certain exceptions from ASC 740. Also, the amendments
in this Update simplify the accounting for income taxes by requiring that an entity recognize a franchise tax (or similar tax)
that is partially based on income as an income-based tax, requiring that an entity evaluate when a step up in the tax basis of
goodwill should be considered part of the business combination, and other targeted changes. The effective date of the amendments
is for fiscal years, and interim periods within those years, beginning after December 15, 2020. The Company is currently evaluating
the impact that the adoption of ASU 2019-12 may have on its consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">In
October 2018, the FASB issued ASU 2018-17,&#160;<i>Consolidation (Topic 810): Targeted Improvements to Related Party Guidance
for Variable Interest Entities</i>. This standard is intended to improve the accounting when considering indirect interests held
through related parties under common control for determining whether fees paid to decision makers and service providers are variable
interests. The effective date of the amendments is for fiscal years, and interim periods within those years, beginning after December
15, 2019. The new standard must be adopted retrospectively with early adoption permitted. The Company does not expect the adoption
of this ASU to have a material impact on its consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
August 2018, the FASB issued ASU 2018-13,&#160;<i>Fair Value Measurement (Topic 820): Disclosure Framework&#8212;Changes to the
Disclosure Requirements for Fair Value Measurement&#160;</i>that eliminates, adds and modifies certain disclosure requirements
for fair value measurements. The effective date of the standard is for fiscal periods, and interim periods within those years,
beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of
significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement
uncertainty should be applied prospectively. All other amendments should be applied retrospectively. Early adoption is permitted.
The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard amends the existing lease accounting guidance
and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that
have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar
to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods,
but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required
to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable
period presented, with an option to elect certain transition relief. ASU 2016-02 was effective for reporting periods beginning
after December 15, 2018. The adoption of ASU 2016-02 did not have a material impact on the Company&#8217;s financial position
and results of operations.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">In
May 2014, Accounting Standards Update (&#8220;ASU&#8221;) No. 2014-09 (&#8220;ASU 2014-09&#8221;), &#8220;Revenue from Contracts
with Customers,&#8221; was issued. This new guidance established a new single comprehensive revenue recognition model and provides
for enhanced disclosures. Under the new policy, the nature, timing and amount of revenue recognized for certain transactions could
differ from those recognized under existing accounting guidance. This new standard does not affect revenue recognized under lease
contracts. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017. As the majority of the Company&#8217;s
revenue is from rental revenue related to leases, the Company has determined that the adoption of this Standard was immaterial
to the consolidated financial statements and related disclosures.</p><span></span>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810800320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES AND INTEREST RECEIVABLE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesAbstract', window );"><strong>Receivables [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivablesTextBlock', window );">NOTES AND INTEREST RECEIVABLE</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>NOTE
5.&#160;&#160;&#160;&#160;&#160;&#160; NOTES AND INTEREST RECEIVABLE&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A
portion of our assets are invested in mortgage notes receivable, principally secured by real estate. We may originate mortgage
loans in conjunction with providing purchase money financing of property sales. Notes receivable are generally collateralized
by real estate or interests in real estate and personal guarantees of the borrower and, unless noted otherwise, are so secured.
Management intends to service and hold for investment the mortgage notes in our portfolio. A majority of the notes receivable
provide for principal to be paid at maturity (dollars in thousands).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px">
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">&#160;</td>
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    <td>&#160;</td>
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<tr>
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<tr>
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    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 17%; vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Prospectus
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Oulan-Chikh
    Family Trust</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">03/21</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">H198,
    LLC (McKinney Ranch Land)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">09/20</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">6.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">4,554</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Forest
    Pines</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">11/20</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">2,868</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Spyglass
    Apartments of Ennis, LP</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">11/20</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5,288</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Bellwether
    Ridge</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">05/20</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,765</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Parc
    at Windmill Farms</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">05/20</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">7,602</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Autumn
    Breeze</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">10/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,302</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Plum
    Tree</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">10/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">413</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Ingleside</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,531</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">RNC</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">8,802</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Revolving
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">6,665</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">525</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,639</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
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    <td>&#160;</td>
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<tr>
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    <td>&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td>&#160;</td>
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<tr>
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    <td>&#160;</td>
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    <td>&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
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    <td>&#160;</td>
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<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Reserve at White Rock Phase I) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Reserve at White Rock Phase II) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Timbers of Terrell) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,323</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Tivoli) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Trails at White Rock) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,815</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">10,401</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Unsecured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">06/20</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5,314</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Unsecured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">03/22</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">4,782</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Unsecured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">07/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">838</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">07/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">773</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Marquis at Vista Ridge) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">07/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">839</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Timbers at the Park) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">07/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">432</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Trails at White Rock) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">07/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">913</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Bella Vista) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">08/21</td>
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<tr>
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<tr style="background-color: #cceeff">
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<tr>
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    <td>&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 2pt double; text-align: right"><b>156,200</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin: 0px">
<tr style="vertical-align: top">
    <td style="width: 2%"><sup>(1)</sup></td>
    <td style="width: 98%; text-align: justify">Related
    party notes.</td></tr>
<tr style="vertical-align: top">
    <td><sup>(2)</sup></td>
    <td style="text-align: justify">An allowance was
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">As
of December 31, 2019, the obligors on approximately $103.5 million of the mortgage notes receivable portfolio were due from related
parties. The Company recognized $11.0 million of interest income from these related party notes receivables. In addition, during
the quarter ended June 30, 2019, our subsidiary TCI purchased notes receivables with a face value of $29.0 million (out of which
$1.0 million represented accrued interest receivables) from related parties.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">As
of December 31, 2019 none of the mortgage notes receivable portfolio were non-performing.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company has various notes receivable from Unified Housing Foundation, Inc. &#8220;UHF&#8221;. UHF is determined to be a related
party due to our significant investment in the performance of the collateral secured under the notes receivable. Payments are
due from surplus cash flow from operations, sale or refinancing of the underlying properties. These notes are cross collateralized
to the extent that any surplus cash available from any of the properties underlying these notes will be used to repay outstanding
interest and principal for the remaining notes. Furthermore, any surplus cash available from any of the properties UHF owns, besides
the properties underlying these notes, can be used to repay outstanding interest and principal for these notes. The allowance
on the notes was a purchase allowance that was netted against the notes when acquired..</p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financing receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -URI http://asc.fasb.org/subtopic&amp;trid=2196772<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 20<br> -URI http://asc.fasb.org/subtopic&amp;trid=2196816<br></p></div>
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<head>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797136160">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND FEES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><b>NOTE
9. <i>RELATED PARTY TRANSACTIONS AND FEES</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">We
apply ASC Topic 805, &#8220;Business Combinations,&#8221; to evaluate business relationships. Related parties are persons or entities
who have one or more of the following characteristics, which include entities for which investments in their equity securities
would be required, trust for the benefit of persons including principal owners of the entities and members of their immediate
families, management personnel of the entity and members of their immediate families and other parties with which the entity may
deal if one party controls or can significantly influence the decision making of the other to an extent that one of the transacting
parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">The
Company has historically engaged in and may continue to engage in certain business transactions with related parties, including
but not limited to asset acquisition and dispositions. Transactions involving related parties cannot be presumed to be carried
out on an arm&#8217;s length basis due to the absence of free market forces that naturally exist in business dealings between
two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms,
conditions and agreements that are not necessarily beneficial to or in our best interest.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">Since
April 30, 2011, Pillar, the sole shareholder of which is Realty Advisors, LLC, a Nevada limited liability company, the sole member
of which is RAI, a Nevada corporation, the sole shareholder of which is MRHI, a Nevada corporation, the sole shareholder of which
is a trust known as the May Trust, became the Company&#8217;s external Advisor and Cash Manager.&#160; Pillar&#8217;s duties include,
but are not limited to, locating, evaluating and recommending real estate and real estate-related investment opportunities. Pillar
also arranges, for the Company&#8217;s benefit, debt and equity financing with third party lenders and investors. Pillar also
serves as an Advisor and Cash Manager to TCI and IOR.&#160; As the contractual advisor, Pillar is compensated by ARL under an
Advisory Agreement that is more fully described in Part III, Item&#160;10. &#8220;Directors, Executive Officers and Corporate
Governance &#8211; The Advisor.&#8221;&#160; ARL has no employees. Employees of Pillar render services to ARL in accordance with
the terms of the Advisory Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Regis
Realty Prime, LLC, dba Regis Property Management, LLC (&#8220;Regis&#8221;), the sole member of which is Realty Advisors, LLC,
manages our commercial properties and provides brokerage services. Regis receives property management fees and leasing commissions
in accordance with the terms of its property-level management agreement. Regis is also entitled to receive real estate brokerage
commissions in accordance with the terms of a non-exclusive brokerage agreement. See Part III, Item&#160;10. &#8220;Directors,
Executive Officers and Corporate Governance &#8211; Property Management and Real Estate Brokerage.&#8221; &#160;ARL engages third-party
companies to lease and manage its apartment properties.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below
is a description of the related party transactions and fees between Pillar and Regis for each of the three years ended December
31, 2019:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fees,
expenses, and revenue paid to and/or received from our advisor:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 95%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.5in">
<tr>
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<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: top; text-align: center">(dollars
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="width: 61%; vertical-align: top">Fees:</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Advisory</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">6,612</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">11,475</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">11,082</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Mortgage
    brokerage and equity refinancing</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">852</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,712</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Net
    income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">357</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">631</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">250</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">6,969</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">12,958</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">13,044</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Other Expense:</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Cost
    reimbursements</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">4,265</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">4,720</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">3,240</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Interest
    paid (received)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(4,686</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,370</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,195</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">(421</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">1,350</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">2,045</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Revenue:</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Rental</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">1,311</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">1,178</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">783</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fees
paid to Regis and related parties:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 97%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.15in">
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>For
    the years ended December 31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>2017</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: bottom; text-align: center">(dollars
    in thousands)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="width: 61%; vertical-align: bottom">Fees:</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; padding-left: 16px">Property
    acquisition</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">318</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">32,008</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">9,128</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; padding-left: 16px">Property
    management, construction management and leasing commissions</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">165</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">540</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">963</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; padding-left: 16px">Real
    estate brokerage</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">71</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,068</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,369</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">554</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">34,616</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">11,460</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company received rental revenue of $1.3 million, $1.2 million, and $0.8 million in the years ended December 31, 2019, 2018, and
2017, respectively, from Pillar and its related parties for properties owned by the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As
of December 31, 2019, the Company had notes and interest receivables, net of allowances, of $96.0 million and $7.5 million, respectively,
due from UHF, a related party. See Part 2, Item 8. Note 5. &#8220;Notes and Interest Receivable.&#8221; During 2019, the Company
recognized interest income of $11.0 million, originated $21.4 million, received $18.2 million in principal payments, and received
interest payments of $10.4 million from these related party notes receivables.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
January 1, 2012, the Company&#8217;s subsidiary, TCI, entered into a development agreement with UHF, a non-profit corporation
that provides management services for the development of residential apartment projects in the future. This development agreement
was terminated December 31, 2013. The Company has also invested in surplus cash notes receivables from UHF and has sold several
residential apartment properties to UHF in prior years. Due to this ongoing relationship and the significant investment in the
performance of the collateral secured under the notes receivable, UHF has been determined to be a related party.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company is the primary guarantor, on a $25.0 million mezzanine loan between UHF and a lender. In addition, ARL, and an officer
of the Company are limited recourse guarantors of the loan. As of December 31, 2019, UHF was in compliance with the covenants
to the loan agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company is part of a tax sharing and compensating agreement with respect to federal income taxes between ARL, TCI and IOR and
their subsidiaries that was entered into in July of 2009. The expense (benefit) in each year was calculated based on the amount
of losses absorbed by taxable income multiplied by the maximum statutory tax rate of 21%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
addition, SPC is part of a management service agreement with the controlling shareholder owned company in which SPC for an annual
payment of 0.5% on the value of the investment properties receives from the Advisor office space, administrative and management
services. During 2019, SPC paid management fees to Pillar in the amount of $2.2 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to related parties
(Pillar) as of December 31, 2019 and 2018:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 70%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>Pillar</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 82%; vertical-align: top">Related
    party receivable, December 31, 2018</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 14%; vertical-align: bottom; text-align: right">70,377</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Cash
    transfers</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">38,139</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Advisory
    fees</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,612</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Net
    income fee</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(357</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Cost
    reimbursements</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(4,265</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Interest
    income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,686</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Notes
    receivable purchased</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(28,669</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797001968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES AND INTEREST PAYABLE (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtTableTextBlock', window );">Schedule of notes and interest payable</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below is a summary of our notes and interest
payable as of December 31, 2019 and 2018 (dollars in thousands):&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.15in">
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><b>December 31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td style="width: 70%; vertical-align: bottom; white-space: nowrap">Apartments</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">120,024</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">94,759</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Apartments under Construction</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">9,017</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">14,402</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td style="vertical-align: bottom; white-space: nowrap">Commercial</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">92,838</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">136,327</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Land&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">19,128</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">27,520</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Corporate and other notes</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">20,429</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right">22,527</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total notes payable</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right">261,436</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right">295,535</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Less: unamortized deferred borrowing costs</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(7,342</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(9,428</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
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    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">254,094</td>
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    <td>&#160;</td>
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    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">286,107</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">779</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr>
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    <td>&#160;</td>
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    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">254,873</td>
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    <td>&#160;</td>
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    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">286,968</td></tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock', window );">Schedule of the principal payments on the notes payable</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes our contractual
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

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    <td style="width: 33%; vertical-align: bottom; white-space: nowrap; text-align: right">34,304</td>
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<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">55,393</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">13,437</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">36,770</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,995</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right">119,537</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Total</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 2pt double; text-align: right">261,436</td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher SEC<br> -Name Regulation S-K (SK)<br> -Number 229<br> -Section 303<br> -Paragraph (a)<br> -Subparagraph (5)<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<html>
<head>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797085040">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>REAL ESTATE (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentFinancialStatementsDisclosureTextBlock', window );">Schedule of real estate owned</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At
December 31, 2019 and 2018, ARL&#8217;s real estate investment is comprised of the following (dollars in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px">
<tr>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><b>December
    31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left"><b>&#160;</b></td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 70%; vertical-align: bottom; white-space: nowrap">Apartments</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">156,173</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">126,274</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Apartments
    under construction</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">22,363</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">21,916</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Commercial
    properties</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">229,424</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">224,162</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Land
    held for development</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">62,037</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">83,641</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Real
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">7,966</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,149</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total
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    <td>&#160;</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right">477,963</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right">459,142</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Less
    accumulated deprecation</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(90,173</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(78,099</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total
    real estate, net of depreciation</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">387,790</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">381,043</td></tr>
</table><span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTextBlock', window );">Schedule of estimated useful lives of the assets</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation
is computed on a straight line basis over the estimated useful lives of the assets as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 90%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.5in">
<tr style="vertical-align: bottom">
    <td style="width: 50%; text-align: left; text-indent: 0px">Land
    improvements</td>
    <td style="width: 50%; text-align: left; text-indent: 0px">25
    to 40 years</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">&#160;</td>
    <td style="text-align: left; text-indent: 0px">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">Buildings
    and improvements</td>
    <td style="text-align: left; text-indent: 0px">10
    to 40 years</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">&#160;</td>
    <td style="text-align: left; text-indent: 0px">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">Tenant
    improvements</td>
    <td style="text-align: left; text-indent: 0px">Shorter
    of useful life or terms of related lease</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">&#160;</td>
    <td style="text-align: left; text-indent: 0px">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">Furniture,
    fixtures and equipment</td>
    <td style="text-align: left; text-indent: 0px">3
    to 7 years</td></tr>
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</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804229664">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>SUPPLEMENTAL CASH FLOW INFORMATION (Details Narrative) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 51,228<span></span>
</td>
<td class="nump">$ 36,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">32,083<span></span>
</td>
<td class="nump">70,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Total cash, cash equivalents and restricted cash</a></td>
<td class="nump">83,311<span></span>
</td>
<td class="nump">106,615<span></span>
</td>
<td class="nump">$ 88,538<span></span>
</td>
<td class="nump">$ 55,921<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=arl_HeldInEscrowMember', window );">Held In Escrow [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">15,540<span></span>
</td>
<td class="nump">37,928<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CertificatesOfDepositMember', window );">Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">3,759<span></span>
</td>
<td class="nump">9,687<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=arl_HeldWithTrusteeMember', window );">Held with Trustee [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">$ 12,784<span></span>
</td>
<td class="nump">$ 22,572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118951113&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3521-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3044-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803705936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Details Narrative)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>Number</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_MilanoMember', window );">Milano [Member] | Me-N-Ed's Pizza Parlors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_MilanoMember', window );">Milano [Member] | Piazza del Pane, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Investee's ownership percentage</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRestaurants', window );">Number of restaurants</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_MilanoMember', window );">Milano [Member] | Blast 825 Pizza [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRestaurants', window );">Number of restaurants</a></td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_MilanoMember', window );">Milano [Member] | Siena Corp [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Investee's ownership percentage</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRestaurants', window );">Number of restaurants</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_MilanoMember', window );">Milano [Member] | Franchised Units [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRestaurants', window );">Number of restaurants</a></td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_MilanoMember', window );">Milano [Member] | Franchised Units [Member] | Angelo &amp; Vito's Pizzerias [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRestaurants', window );">Number of restaurants</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_GruppaFlorentinaLlcMember', window );">Gruppa Florentina LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Percentage of ownership</a></td>
<td class="nump">20.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfRestaurants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of restaurants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfRestaurants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_MilanoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_MilanoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_MeNEdsPizzaParlorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_MeNEdsPizzaParlorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_PiazzaDelPaneIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_PiazzaDelPaneIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_Blast825PizzaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_Blast825PizzaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_SienaCorpMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_SienaCorpMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FranchisorDisclosureAxis=us-gaap_FranchisedUnitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FranchisorDisclosureAxis=us-gaap_FranchisedUnitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_AngeloAndVitosPizzeriasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_AngeloAndVitosPizzeriasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_GruppaFlorentinaLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_GruppaFlorentinaLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797127120">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths', window );">2020</a></td>
<td class="nump">$ 26,208<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears', window );">2021</a></td>
<td class="nump">23,558<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears', window );">2022</a></td>
<td class="nump">20,382<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears', window );">2023</a></td>
<td class="nump">14,882<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears', window );">2024</a></td>
<td class="nump">8,861<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter', window );">Thereafter</a></td>
<td class="nump">7,109<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceived', window );">Total</a></td>
<td class="nump">$ 101,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeasesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor for operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor in fifth fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest statement of financial position date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor in fourth year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor in next fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor after fifth fiscal year following latest statement of financial position date for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor in third fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor in second fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797012368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SCHEDULE IV MORTGAGE LOANS RECEIVABLE (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MovementInMortgageLoansOnRealEstateRollForward', window );"><strong>Movement in Mortgage Loans on Real Estate [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Balance at beginning</a></td>
<td class="nump">$ 126,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 143,601<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateAdditionsAbstract', window );"><strong>Additions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans', window );">New mortgage loans</a></td>
<td class="nump">49,671<span></span>
</td>
<td class="nump">$ 13,123<span></span>
</td>
<td class="nump">15,741<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease', window );">Increase (decrease) of interest receivable on mortgage loans</a></td>
<td class="nump">12,429<span></span>
</td>
<td class="num">(6,388)<span></span>
</td>
<td class="nump">581<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateDeductionsAbstract', window );"><strong>Deductions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal', window );">Amounts received</a></td>
<td class="num">(30,245)<span></span>
</td>
<td class="num">(8,541)<span></span>
</td>
<td class="num">(32,058)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateOtherDeductions', window );">Non-cash reductions</a></td>
<td class="num">(1,713)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Balance at ending</a></td>
<td class="nump">$ 156,200<span></span>
</td>
<td class="nump">$ 126,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageLoansOnRealEstateAdditionsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageLoansOnRealEstateDeductionsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate, from collection of principal.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Footnote 6<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Footnote 6))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateCollectionsOfPrincipal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate, from new investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Footnote 6))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MortgageLoansOnRealEstateNewMortgageLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstateOtherDeductions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of reduction in investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Footnote 6))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MortgageLoansOnRealEstateOtherDeductions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MortgageLoansOnRealEstatePeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MovementInMortgageLoansOnRealEstateRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MovementInMortgageLoansOnRealEstateRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118952595&amp;loc=d3e4428-111522<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797458128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EARNINGS PER SHARE (Details Narrative)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jan. 12, 2018 </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 09, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jul. 17, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>shares</div>
</th>
<th class="th">
<div>May 07, 2014 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Stock options outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember', window );">Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, issued (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,800,614<span></span>
</td>
<td class="nump">1,800,614<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, outstanding (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PercentageOfAverageDailyClosingPriceOfCommonStock', window );">Percentage of the average daily closing price of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.90<span></span>
</td>
<td class="nump">0.90<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendRatePercentage', window );">Preferred stock, dividend rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NumberOfTradingDays', window );">Number of trading days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 days<span></span>
</td>
<td class="text">20 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember', window );">Series A Preferred Stock [Member] | ARL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, issued (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember', window );">Series A Preferred Stock [Member] | RAI [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_SharesHeldBySubsidiaries', window );">Shares held by subsidiaries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,451,435<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPayableCurrentAndNoncurrent', window );">Accrued dividends unpaid | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NumberOfPreferredStockConverted', window );">Number of preferred stock converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">460,638<span></span>
</td>
<td class="nump">890,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AccumulatedDividendsUnpaidUponConversion', window );">Accumulated dividends unpaid upon conversion | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,300<span></span>
</td>
<td class="nump">$ 6,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Number of common stock issued for conversion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,486,741<span></span>
</td>
<td class="nump">2,502,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Number of shares converted</a></td>
<td class="nump">200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Number of shares issued upon conversion</a></td>
<td class="nump">482,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=arl_SeriesKConvertiblePreferredStockMember', window );">Series K Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, issued (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AccumulatedDividendsUnpaidUponConversion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to accumulated dividend unpaid upon conversion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AccumulatedDividendsUnpaidUponConversion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NumberOfPreferredStockConverted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of preferred stock converted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NumberOfPreferredStockConverted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NumberOfTradingDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of trading days in computing common stock price upon conversion od convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NumberOfTradingDays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PercentageOfAverageDailyClosingPriceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the average daily closing price of common stock computed upon conversion of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PercentageOfAverageDailyClosingPriceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_SharesHeldBySubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares held by subidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_SharesHeldBySubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesConverted1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesConverted1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendRatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage rate used to calculate dividend payments on preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockDividendRatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=116856206&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=116856206&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember</td>
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<tr>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_AmericanRealtyInvestorsIncMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RAIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RAIMember</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797473792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="num">$ (21,743)<span></span>
</td>
<td class="nump">$ 183,902<span></span>
</td>
<td class="num">$ (8,696)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentFederalTaxExpenseBenefit', window );">Federal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42,231<span></span>
</td>
<td class="num">(3,044)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit', window );">State</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,210<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Deferred and Other:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit', window );">Federal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(42,231)<span></span>
</td>
<td class="nump">3,044<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit', window );">State</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">170<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation', window );">Total Tax Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,210<span></span>
</td>
<td class="nump">$ 180<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentFederalTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentFederalTaxExpenseBenefit</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentStateAndLocalTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income tax expense (benefit) for continuing operations, discontinued operations, other comprehensive income, and items charged (credited) directly to shareholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6822010592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>QUARTERLY RESULTS OF OPERATIONS (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="12">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Sep. 30, 2019</div></th>
<th class="th"><div>Jun. 30, 2019</div></th>
<th class="th"><div>Mar. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract', window );"><strong>Quarterly Financial Information Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="nump">$ 12,258<span></span>
</td>
<td class="nump">$ 11,943<span></span>
</td>
<td class="nump">$ 11,840<span></span>
</td>
<td class="nump">$ 11,929<span></span>
</td>
<td class="nump">$ 24,857<span></span>
</td>
<td class="nump">$ 33,409<span></span>
</td>
<td class="nump">$ 31,607<span></span>
</td>
<td class="nump">$ 31,083<span></span>
</td>
<td class="nump">$ 31,005<span></span>
</td>
<td class="nump">$ 31,807<span></span>
</td>
<td class="nump">$ 31,587<span></span>
</td>
<td class="nump">$ 31,822<span></span>
</td>
<td class="nump">$ 47,970<span></span>
</td>
<td class="nump">$ 120,956<span></span>
</td>
<td class="nump">$ 126,221<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
<td class="nump">15,688<span></span>
</td>
<td class="nump">13,809<span></span>
</td>
<td class="nump">16,217<span></span>
</td>
<td class="nump">13,664<span></span>
</td>
<td class="nump">24,717<span></span>
</td>
<td class="nump">28,199<span></span>
</td>
<td class="nump">27,990<span></span>
</td>
<td class="nump">26,165<span></span>
</td>
<td class="nump">28,292<span></span>
</td>
<td class="nump">26,397<span></span>
</td>
<td class="nump">26,759<span></span>
</td>
<td class="nump">27,345<span></span>
</td>
<td class="nump">59,378<span></span>
</td>
<td class="nump">107,071<span></span>
</td>
<td class="nump">108,793<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Operating income</a></td>
<td class="num">(3,430)<span></span>
</td>
<td class="num">(1,866)<span></span>
</td>
<td class="num">(4,377)<span></span>
</td>
<td class="num">(1,735)<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="nump">5,210<span></span>
</td>
<td class="nump">3,617<span></span>
</td>
<td class="nump">4,918<span></span>
</td>
<td class="nump">2,713<span></span>
</td>
<td class="nump">5,410<span></span>
</td>
<td class="nump">4,828<span></span>
</td>
<td class="nump">4,477<span></span>
</td>
<td class="num">(11,408)<span></span>
</td>
<td class="nump">13,885<span></span>
</td>
<td class="nump">17,428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Other (expense) income</a></td>
<td class="num">(3,914)<span></span>
</td>
<td class="num">(12,723)<span></span>
</td>
<td class="num">(1,927)<span></span>
</td>
<td class="num">(6,963)<span></span>
</td>
<td class="num">(3,508)<span></span>
</td>
<td class="nump">5,955<span></span>
</td>
<td class="nump">2,678<span></span>
</td>
<td class="num">(6,638)<span></span>
</td>
<td class="num">(11,853)<span></span>
</td>
<td class="num">(9,348)<span></span>
</td>
<td class="num">(15,676)<span></span>
</td>
<td class="num">(10,829)<span></span>
</td>
<td class="num">(25,527)<span></span>
</td>
<td class="num">(1,513)<span></span>
</td>
<td class="num">(47,706)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">(Loss) income before gain on sales, non-contolling interest, and taxes</a></td>
<td class="num">(7,344)<span></span>
</td>
<td class="num">(14,589)<span></span>
</td>
<td class="num">(6,304)<span></span>
</td>
<td class="num">(8,698)<span></span>
</td>
<td class="num">(3,368)<span></span>
</td>
<td class="nump">11,165<span></span>
</td>
<td class="nump">6,295<span></span>
</td>
<td class="num">(1,720)<span></span>
</td>
<td class="num">(9,140)<span></span>
</td>
<td class="num">(3,938)<span></span>
</td>
<td class="num">(10,848)<span></span>
</td>
<td class="num">(6,352)<span></span>
</td>
<td class="num">(36,935)<span></span>
</td>
<td class="nump">12,372<span></span>
</td>
<td class="num">(30,278)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal', window );">Gain on formation of joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">154,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate', window );">Gain on sale of income producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,938<span></span>
</td>
<td class="nump">12,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,698<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain (loss) on land sales</a></td>
<td class="nump">5,400<span></span>
</td>
<td class="nump">5,139<span></span>
</td>
<td class="nump">2,517<span></span>
</td>
<td class="nump">2,216<span></span>
</td>
<td class="nump">3,826<span></span>
</td>
<td class="nump">12,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,335<span></span>
</td>
<td class="nump">3,853<span></span>
</td>
<td class="nump">1,062<span></span>
</td>
<td class="num">(476)<span></span>
</td>
<td class="nump">445<span></span>
</td>
<td class="nump">15,272<span></span>
</td>
<td class="nump">17,404<span></span>
</td>
<td class="nump">4,884<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="num">(418)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(418)<span></span>
</td>
<td class="num">(792)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(180)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,210<span></span>
</td>
<td class="nump">180<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest', window );">Net (loss) income from continued operations</a></td>
<td class="num">(1,944)<span></span>
</td>
<td class="num">(9,450)<span></span>
</td>
<td class="num">(3,867)<span></span>
</td>
<td class="num">(6,482)<span></span>
</td>
<td class="nump">154,166<span></span>
</td>
<td class="nump">22,616<span></span>
</td>
<td class="nump">6,295<span></span>
</td>
<td class="num">(385)<span></span>
</td>
<td class="num">(1,529)<span></span>
</td>
<td class="nump">9,884<span></span>
</td>
<td class="num">(11,324)<span></span>
</td>
<td class="num">(5,907)<span></span>
</td>
<td class="num">(21,743)<span></span>
</td>
<td class="nump">182,692<span></span>
</td>
<td class="num">(8,876)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
<td class="num">(1,944)<span></span>
</td>
<td class="num">(9,450)<span></span>
</td>
<td class="num">(3,867)<span></span>
</td>
<td class="num">(6,482)<span></span>
</td>
<td class="nump">154,166<span></span>
</td>
<td class="nump">22,616<span></span>
</td>
<td class="nump">6,295<span></span>
</td>
<td class="num">(385)<span></span>
</td>
<td class="num">(1,529)<span></span>
</td>
<td class="nump">9,884<span></span>
</td>
<td class="num">(11,324)<span></span>
</td>
<td class="num">(5,907)<span></span>
</td>
<td class="num">(21,743)<span></span>
</td>
<td class="nump">182,692<span></span>
</td>
<td class="num">(8,876)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossAttributableToNoncontrollingInterest', window );">Less: net (income) loss attributable to non-controlling interest</a></td>
<td class="nump">2,482<span></span>
</td>
<td class="nump">1,879<span></span>
</td>
<td class="nump">1,089<span></span>
</td>
<td class="nump">335<span></span>
</td>
<td class="num">(6,012)<span></span>
</td>
<td class="num">(2,265)<span></span>
</td>
<td class="num">(441)<span></span>
</td>
<td class="num">(275)<span></span>
</td>
<td class="nump">339<span></span>
</td>
<td class="num">(522)<span></span>
</td>
<td class="nump">435<span></span>
</td>
<td class="nump">193<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsIncomeStatementImpact', window );">Preferred dividend requirement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(226)<span></span>
</td>
<td class="num">(225)<span></span>
</td>
<td class="num">(225)<span></span>
</td>
<td class="num">(225)<span></span>
</td>
<td class="num">(280)<span></span>
</td>
<td class="num">(275)<span></span>
</td>
<td class="num">(275)<span></span>
</td>
<td class="num">(275)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net (loss) income applicable to common shares</a></td>
<td class="nump">$ 538<span></span>
</td>
<td class="num">$ (7,571)<span></span>
</td>
<td class="num">$ (2,778)<span></span>
</td>
<td class="num">$ (6,147)<span></span>
</td>
<td class="nump">$ 147,928<span></span>
</td>
<td class="nump">$ 20,126<span></span>
</td>
<td class="nump">$ 5,629<span></span>
</td>
<td class="num">$ (885)<span></span>
</td>
<td class="num">$ (1,470)<span></span>
</td>
<td class="nump">$ 9,087<span></span>
</td>
<td class="num">$ (11,164)<span></span>
</td>
<td class="num">$ (5,989)<span></span>
</td>
<td class="num">$ (15,959)<span></span>
</td>
<td class="nump">$ 172,798<span></span>
</td>
<td class="num">$ (9,536)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAbstract', window );"><strong>Earnings per share - basic</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare', window );">(Loss) income from continued operations</a></td>
<td class="num">$ (0.12)<span></span>
</td>
<td class="num">$ (0.59)<span></span>
</td>
<td class="num">$ (0.24)<span></span>
</td>
<td class="num">$ (0.41)<span></span>
</td>
<td class="nump">$ 9.26<span></span>
</td>
<td class="nump">$ 1.26<span></span>
</td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="num">$ (0.06)<span></span>
</td>
<td class="num">$ (0.09)<span></span>
</td>
<td class="nump">$ 0.59<span></span>
</td>
<td class="num">$ (0.72)<span></span>
</td>
<td class="num">$ (0.39)<span></span>
</td>
<td class="num">$ (1.36)<span></span>
</td>
<td class="nump">$ 11.43<span></span>
</td>
<td class="num">$ (0.57)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Net income (loss) applicable to common shares</a></td>
<td class="nump">$ 0.03<span></span>
</td>
<td class="num">$ (0.47)<span></span>
</td>
<td class="num">$ (0.17)<span></span>
</td>
<td class="num">$ (0.38)<span></span>
</td>
<td class="nump">$ 9.26<span></span>
</td>
<td class="nump">$ 1.26<span></span>
</td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="num">$ (0.06)<span></span>
</td>
<td class="num">$ (0.09)<span></span>
</td>
<td class="nump">$ 0.59<span></span>
</td>
<td class="num">$ (0.72)<span></span>
</td>
<td class="num">$ (0.39)<span></span>
</td>
<td class="num">$ (1.00)<span></span>
</td>
<td class="nump">$ 10.81<span></span>
</td>
<td class="num">$ (0.61)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesIssuedBasic', window );">Weighted average common shares used in computing earnings per share</a></td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,938,077<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,982,528<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDilutedAbstract', window );"><strong>Earnings per share - diluted</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare', window );">(Loss) income from continued operations</a></td>
<td class="num">$ (0.12)<span></span>
</td>
<td class="num">$ (0.59)<span></span>
</td>
<td class="num">$ (0.24)<span></span>
</td>
<td class="num">$ (0.41)<span></span>
</td>
<td class="nump">$ 9.27<span></span>
</td>
<td class="nump">$ 1.26<span></span>
</td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="num">$ (0.06)<span></span>
</td>
<td class="num">$ (0.09)<span></span>
</td>
<td class="nump">$ 0.59<span></span>
</td>
<td class="num">$ (0.72)<span></span>
</td>
<td class="num">$ (0.39)<span></span>
</td>
<td class="num">$ (1.36)<span></span>
</td>
<td class="nump">$ 10.94<span></span>
</td>
<td class="num">$ (0.57)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Net (loss) income applicable to common shares</a></td>
<td class="nump">$ 0.03<span></span>
</td>
<td class="num">$ (0.47)<span></span>
</td>
<td class="num">$ (0.17)<span></span>
</td>
<td class="num">$ (0.38)<span></span>
</td>
<td class="nump">$ 9.27<span></span>
</td>
<td class="nump">$ 1.26<span></span>
</td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="num">$ (0.06)<span></span>
</td>
<td class="num">$ (0.09)<span></span>
</td>
<td class="nump">$ 0.59<span></span>
</td>
<td class="num">$ (0.72)<span></span>
</td>
<td class="num">$ (0.39)<span></span>
</td>
<td class="num">$ (1.00)<span></span>
</td>
<td class="nump">$ 10.35<span></span>
</td>
<td class="num">$ (0.61)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average common shares used in computing diluted earnings per share</a></td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,938,077<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">16,697,966<span></span>
</td>
<td class="nump">15,514,360<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_GainLossOnLandSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of gain (loss) on sale of land during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_GainLossOnLandSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=117327953&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=117327953&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDilutedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDilutedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of an equity method investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=117337411&amp;loc=d3e23528-158515<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(14)(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23439-158514<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 360<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=117337397&amp;loc=d3e23415-158514<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnSalesOfInvestmentRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before tax, of income (loss) attributable to noncontrolling interest. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=68072869&amp;loc=d3e41242-110953<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(15))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-03(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868656-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsPerBasicShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1337-109256<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1252-109256<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-03(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868656-224227<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=SL5780133-109256<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=117326831&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendsIncomeStatementImpact">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockDividendsIncomeStatementImpact</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591551-111686<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3000-108585<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591552-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_QuarterlyFinancialInformationDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding. Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic).</p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810847088">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>DEFERRED INCOME<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text">&#160;<span></span>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
10.&#160;&#160;&#160;&#160; DEFERRED INCOME</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
previous years, the Company has sold properties to related parties where we have had continuing involvement in the form of management
or financial assistance associated with the sale of the properties. Because of the continuing involvement associated with the
sale, the sales criteria for the full accrual method is not met, and as such the Company has deferred some or all of the gain
recognition and accounted for the sale by applying the finance, deposit, installment or cost recovery methods, as appropriate,
until the sales criteria is met. The gains on these transactions have been deferred until the properties are sold to a non-related
third party. As of December 31, 2019, we had deferred gain of $24.8 million.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821557104">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENT IN VAA<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="text">&#160;<span></span>
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        <font style="font: 10pt Times New Roman, Times, Serif">On November 19, 2018, TCI executed an agreement with Macquarie Group (&#8220;Macquarie&#8221;) to create a joint venture, Victory Abode Apartments, LLC (&#8220;VAA&#8221;) to address existing and future demand for quality multifamily residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. In connection with the formation of the joint venture, TCI contributed a portfolio of 49 income producing apartment complexes, and 3 development projects in various stages of construction. TCI received cash consideration of $236.8 million and recognized a gain of approximately $154.1 million. At the time of the transfer of the properties, the joint venture assumed all liabilities of those properties, including mortgage debt to the Department of Housing and Urban Development (&#8220;HUD&#8221;).</font>
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        <font style="font: 10pt Times New Roman, Times, Serif">VAA is equally owned and controlled by Abode JVP, LLC, a wholly-owned subsidiary of Southern and Summerset Intermediate Holdings 2 LLC (&#8220;Summerset&#8221;), a wholly-owned indirect subsidiary of Macquarie.&#160; Pursuant to the Agreement, Abode JVP, LLC and Summerset each own voting and profit participation rights of 50% and 49%, respectively (&#8220;Class A Members&#8221;).&#160; The remaining 2% of the profit participation interest is held by Daniel J. Moos ARL&#8217;s President and Chief Executive Officer (&#8220;Class B Member&#8221;) who serves also as the Manager of the joint venture.&#160;In addition, upon the closing of the agreement the Class B Member received a one-time consideration payment of $1.9 million.</font>
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        <font style="font: 10pt Times New Roman, Times, Serif">The Company accounts for its investment in VAA under the equity method of accounting. Under the equity method of accounting, our net equity in the investment is reflected within the Consolidated Balance Sheets in the caption &#8216;Investment in VAA&#8217;, and our share of the net income or loss from the joint venture is included within the Consolidated Statements of Operations in the caption &#8216;Earnings from VAA&#8217;. The joint venture agreements may designate different percentage allocations among investors for profits and losses; however, our recognition of joint venture income or loss generally follows the joint venture&#8217;s distribution priorities, which may change upon the achievement of certain investment return thresholds and other agreed upon adjustments.</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td colspan="3" style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Net real estate assets</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">1,242,957</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">1,257,557</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Other assets</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">62,222</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">67,020</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Debt, net</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(832,779</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(791,225</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Other liabilities</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(271,291</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(280,288</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total equity</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(201,109</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(253,064</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
    </table>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">
        <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse">
        <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
            <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 10pt Times New Roman, Times, Serif"><b>Results
            of Operations</b></font></td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For
            the Year Ended December 31, 2019</b></font></td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For
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        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total revenue</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">115,377</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">12,887</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total property, operating, and maintenance expenses</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(56,967</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(4,507</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Interest expense</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(61,487</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(5,818</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Depreciation and Amortization</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(43,942</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(6,987</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total other expense</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(3,377</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(5,297</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Net loss</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(50,396</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(9,722</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
    </table>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">
        <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
    </p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"></p>

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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
    <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse">
        <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For
            the Year Ended December 31, 2019</b></font></td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For
            the period November 19 to December 31, 2018</b></font></td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">VAA net loss</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(50,396</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(9,722</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">(5,547</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">
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                <font style="font: 10pt Times New Roman, Times, Serif">88</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">%</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
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        <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">1</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">168</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797042336">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin: 0px">
<tr style="vertical-align: top">
    <td style="width: 60pt"><b>NOTE 6.</b></td>
    <td style="text-align: justify"><b><i>INVESTMENTS
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments
in unconsolidated subsidiaries, jointly owned companies and other investees in which we have a 20% to 50% interest or otherwise
exercise significant influence are carried at cost, adjusted for the Company&#8217;s proportionate share of their undistributed
earnings or losses, via the equity method of accounting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 &#8216;Investment in VAA&#8217;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company owns a 20% interest in Gruppa Florentina, LLC which is the sole shareholder of Milano Restaurants International Corporation,
(&#8220;Milano&#8221;) which operates 33 pizza parlors under the trade name &#8220;Me-N-Ed&#8217;s Pizza Parlors&#8221; and four
pizza parlors operating under the trade name &#8220;Blast 825 Pizza&#8221;, located primarily in Central and Northern California.&#160;
Milano has a 100% ownership interest in Siena Corp, which operates two grills under the trade names &#8220;Me-N-Ed&#8217;s Victory
Grill&#8221; and &#8220;Me-N-Ed&#8217;s Coney Island Grill&#8221;. Milano has a 100% ownership interest in Piazza del Pane, Inc.,
which operates two restaurants located in Central California. Milano also has 23 franchised locations, including two operating,
under the trade name Angelo &#38; Vito&#8217;s Pizzerias.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
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<tr>
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<tr>
    <td style="width: 60%; vertical-align: top"><b><u>SUMMARY
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    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,065</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,303</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,058</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">993</td>
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<tr>
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    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">2,303</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">2,058</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">993</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr>
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    <td style="vertical-align: bottom; text-align: right">461</td>
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    <td style="vertical-align: bottom; text-align: right">412</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.3A-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=116822174&amp;loc=d3e355119-122828<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -URI http://asc.fasb.org/topic&amp;trid=2196965<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797218032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract', window );"><strong>Equity Method Investments and Joint Ventures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ScheduleOfFinancialPositionAndResultsOfOperationsUnconsolidatedParentTabletextBlock', window );">Schedule of financial position and results of operations from our investees</a></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
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    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
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<tr style="background-color: #cceeff">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6793905632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENT IN VAA (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">67,020</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(832,779</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(791,225</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Other liabilities</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(271,291</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(280,288</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total equity</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(201,109</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(253,064</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
    </table>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">
        <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
    </p>
    <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse">
        <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            of Operations</b></font></td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For
            the Year Ended December 31, 2019</b></font></td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total revenue</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">115,377</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">12,887</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total property, operating, and maintenance expenses</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(56,967</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(4,507</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Interest expense</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(61,487</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(5,818</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Depreciation and Amortization</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(43,942</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(6,987</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Total other expense</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(3,377</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(5,297</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Net loss</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(50,396</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(9,722</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
    </table>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">
        <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
    </p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt"></p>

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        <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
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        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; width: 56%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">VAA net loss</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(50,396</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(9,722</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">Adjustments to reconcile to income (loss) from VAA</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;Interest expense on mezzanine loan</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">25,014</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">2,815</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;In-place lease intangibles - amortization expense</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;Net loss</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">
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                <font style="font: 10pt Times New Roman, Times, Serif">(5,547</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">88</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
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                <font style="font: 10pt Times New Roman, Times, Serif">Percentage ownership in VAA</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">%</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">50</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">%</font>
            </td>
        </tr>
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                <font style="font: 10pt Times New Roman, Times, Serif">Loss from VAA</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">(2,774</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">44</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ScheduleOfLocationOfPropertiesOwnedByVAATableTextBlock', window );">Schedule of the location of properties owned by VAA</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The following table sets forth the location of our real estate held for investment (income-producing properties only) by asset type as of December 31, 2019:</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 24%; vertical-align: bottom">
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black"><b>Location</b></font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black"><b>No.</b></font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black"><b>Units</b></font>
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom">
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">Alabama</font>
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">1</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">168</font>
                </p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">5</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">1,122</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">2</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">260</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">2</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">388</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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                <font style="font: 10pt Times New Roman,serif">Lakeside Lofts apartments</font>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of apartment projects in development.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of locations of properties owned by joint venture.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6818818032">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)<br> $ in Thousands</strong></div></th>
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<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
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<td class="text">&#160;<span></span>
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<td class="num">$ (21,743)<span></span>
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<td class="nump">182,692<span></span>
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<td class="num">(8,876)<span></span>
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<td class="num">(8,993)<span></span>
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<td class="num">$ (8,431)<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4613674-111683<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569643-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591552-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591551-111686<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3000-108585<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591552-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
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<td>xbrli:monetaryItemType</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract</td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6823870576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="nump">$ 47,970<span></span>
</td>
<td class="nump">$ 120,956<span></span>
</td>
<td class="nump">$ 126,221<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="nump">25,694<span></span>
</td>
<td class="nump">59,587<span></span>
</td>
<td class="nump">64,091<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
<td class="nump">13,336<span></span>
</td>
<td class="nump">12,708<span></span>
</td>
<td class="nump">7,691<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">25,955<span></span>
</td>
<td class="nump">21,645<span></span>
</td>
<td class="nump">18,941<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Mortgage and loan interest</a></td>
<td class="nump">39,860<span></span>
</td>
<td class="nump">66,063<span></span>
</td>
<td class="nump">66,171<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember', window );">Related Parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Rental and other property revenues</a></td>
<td class="nump">841<span></span>
</td>
<td class="nump">144<span></span>
</td>
<td class="nump">839<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment', window );">Property operating expenses</a></td>
<td class="nump">991<span></span>
</td>
<td class="nump">254<span></span>
</td>
<td class="nump">959<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
<td class="nump">4,429<span></span>
</td>
<td class="nump">1,267<span></span>
</td>
<td class="nump">3,225<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">23,760<span></span>
</td>
<td class="nump">5,406<span></span>
</td>
<td class="nump">16,298<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Mortgage and loan interest</a></td>
<td class="nump">$ 9,282<span></span>
</td>
<td class="nump">$ 2,240<span></span>
</td>
<td class="nump">$ 6,695<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense incurred and directly related to generating revenue from leased and rented property or equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109500613&amp;loc=SL6036836-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6818918880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Mar. 25, 2020</div></th>
<th class="th"><div>Jun. 30, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">AMERICAN REALTY INVESTORS INC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001102238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-K<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-15663<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State Code</a></td>
<td class="text">NV<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Season Issuer</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Reporting Status Current</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Non-accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,997,076<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 17,795,030<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">dei_CoverAbstract</td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityPublicFloat</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a Smaller Reporting Company (SRC).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797114304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesOfLessorDisclosureTextBlock', window );">FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
14.</b>&#160;&#160;&#160;&#160; <b><i>FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ARL&#8217;s
operations include the leasing of commercial properties (office buildings, industrial warehouses and retail centers). The leases,
thereon, expire at various dates through 2029. The following is a schedule of minimum future rents due to ARL under non-cancelable
operating leases as of December 31, 2019 (dollars in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 40%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; white-space: nowrap"><b>Year</b></td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center; white-space: nowrap"><b>Amount</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 67%; vertical-align: top; white-space: nowrap">2020</td>
    <td style="width: 4%">&#160;</td>
    <td style="width: 2%; vertical-align: bottom; text-align: left; white-space: nowrap">&#160;</td>
    <td style="width: 25%; vertical-align: bottom; text-align: right; white-space: nowrap">26,208</td>
    <td style="width: 2%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; white-space: nowrap">2021</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left; white-space: nowrap">&#160;</td>
    <td style="vertical-align: bottom; text-align: right; white-space: nowrap">23,558</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; white-space: nowrap">2022</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left; white-space: nowrap">&#160;</td>
    <td style="vertical-align: bottom; text-align: right; white-space: nowrap">20,382</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; white-space: nowrap">2023</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left; white-space: nowrap">&#160;</td>
    <td style="vertical-align: bottom; text-align: right; white-space: nowrap">14,882</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; white-space: nowrap">2024</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left; white-space: nowrap">&#160;</td>
    <td style="vertical-align: bottom; text-align: right; white-space: nowrap">8,861</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; white-space: nowrap">Thereafter</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left; white-space: nowrap">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; white-space: nowrap">7,109</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.25in; white-space: nowrap">Total</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left; white-space: nowrap">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right; white-space: nowrap"><b>101,000</b></td></tr>
</table><span></span>
</td>
</tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for lessor's operating leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph Note 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph Note 3<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -URI http://asc.fasb.org/subtopic&amp;trid=77888252<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6603577584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EARNINGS PER SHARE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings Per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">EARNINGS PER SHARE</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
18.</b>&#160;&#160;&#160;&#160; <b><i>EARNINGS PER SHARE</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Earnings
per share (&#8220;EPS&#8221;) has been computed pursuant to the provisions of ASC Topic 260 &#8220;<i>Earnings Per Share.&#8221;&#160;</i>The
computation of basic EPS is calculated by dividing net income available to common shareholders from continuing operations, adjusted
for preferred dividends, by the weighted-average number of common shares outstanding during the period. Shares issued during the
period shall be weighted for the portion of the period that they were outstanding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For
the years ended December 31, 2019 and 2018, we had 614 shares issued and 1,800,614 outstanding of Series A 10.0% cumulative convertible
preferred stock. These shares may be converted into common stock at 90% of the average daily closing price of the common stock
for the prior 20 trading days. These are considered in the computation of diluted earnings per share if the effect of applying
the if-converted method is dilutive. On January 12, 2018 Realty Advisors (&#8220;RAI&#8221;) converted 200,000 preferred shares,
plus accrued dividends into 482,716 shares of common stock. Of the outstanding 1,800,614 shares, 900,000 are held by ARL. Dividends
are not paid on the shares owned by ARL.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior
to July 17, 2014, RAI owned 2,451,435 shares of the outstanding Series A 10.0.0% convertible preferred stock and had accrued dividends
unpaid of $15.1 million. On July 17, 2014, RAI converted 890,797 shares, including $6.3 million in accumulated dividends unpaid
for these shares, into the requisite number of shares of common stock. This conversion resulted in the issuance of 2,502,230 new
shares of ARL common stock. On April 9, 2015, RAI converted 460,638 shares including $2.3 million in accumulated dividends unpaid
for these shares, into the requisite number of shares of common stock. This conversion resulted in the issuance of 1,486,741 new
shares of ARL common stock. As of December 31, 2018, RAI owns 900,000 shares of the outstanding Series A convertible preferred
stock and has accrued unpaid dividends of approximately $9.9 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company had 135,000 shares of Series K convertible preferred stock, which were held by TCI and used as collateral on a note. The
note has been paid in full and the Series K preferred stock was cancelled May 7, 2014.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior
to January 1, 2015, the Company had 1,000 shares of stock options outstanding. These options expired unexercised January 1, 2015.
The options are no longer included in the dilutive earnings per share calculation for the current period, but are considered in
the computation for the prior periods if applying the &#8220;treasury stock&#8221; method is dilutive.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As
of December 31, 2019 and 2018, the Series A convertible preferred stock and the stock options were anti-dilutive and therefore
not included in the EPS calculation.</p><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -URI http://asc.fasb.org/topic&amp;trid=2144383<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6823058288">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INVESTMENT IN VAA (Details 1) - Victory Abode Apartments, LLC [Member]<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>Number</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">51<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">9,888<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">ALABAMA</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">168<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">ARKANSAS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">1,122<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">COLORADO</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">260<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">FLORIDA</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">388<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">GEORGIA</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">222<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">LOUISIANA</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">464<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">MISSISSIPPI</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">196<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">NEVADA</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">308<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">NORTH CAROLINA</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">201<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">TENNESSEE</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">708<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Texas-Greater Dallas Ft. Worth</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">3,749<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Texas-Greater Houston</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">416<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">TEXAS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of properties</a></td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Total Apartment Units</a></td>
<td class="nump">1,726<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfRealEstateProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of real estate properties owned as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfRealEstateProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfUnitsInRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of units in a real estate property owned as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfUnitsInRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_AL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_AL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_AR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_AR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_CO">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_CO</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=stpr_FL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=stpr_FL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=stpr_GA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=stpr_GA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_LA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_LA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_MS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_MS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=stpr_NV">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=stpr_NV</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_NC">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_NC</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6719179328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>OPERATING SEGMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Presented below is the Company&#8217;s reportable
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(15,805</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(8,375</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(779</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(25,694</td>
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    <td style="vertical-align: bottom; text-align: right">(10,229</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,150</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(13,379</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,018</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(4,069</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,301</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(27,472</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(39,860</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(5,219</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(5,219</td>
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    <td style="vertical-align: top">Interest income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">25,955</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">25,955</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(80</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(80</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">15,272</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(5,564</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(417</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">13,236</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(2,290</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">4,965</td>
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    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">5,257</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">3,489</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">33,747</td>
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    <td style="vertical-align: bottom; text-align: right">229,424</td>
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    <td style="vertical-align: bottom; text-align: right">178,536</td>
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    <td style="vertical-align: bottom; text-align: right">70,003</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">477,963</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
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<tr>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; text-align: right">3,096</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">30,012</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: right">33,108</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,176</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(14,740</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(17,916</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">15,272</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">15,192</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">33,113</td>
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    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">1</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">10</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(16,252</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(42,134</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(645</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(556</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(59,587</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,530</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(13,140</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(22,670</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,663</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(20,671</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(636</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(37,093</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(66,063</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: right">21,645</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">21,645</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">17,404</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">17,404</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(332</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">11,887</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">16,124</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(15,994</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">11,685</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">8,246</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">16,953</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">25,199</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">153,014</td>
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    <td style="vertical-align: bottom; text-align: right">143,500</td>
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    <td style="vertical-align: bottom; text-align: right">84,529</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">381,043</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">2,313</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">8,512</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">43,311</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: right">54,136</td>
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<tr>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(2,313</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(8,512</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(25,907</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(36,732</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">17,404</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">17,404</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
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    <td style="width: 1%">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">33,286</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">111</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">17</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">126,221</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(18,549</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(43,677</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(878</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(987</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(64,091</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,358</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(16,354</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">33</td>
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    <td style="vertical-align: bottom; text-align: right">(25,679</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,527</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(22,347</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,945</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(34,352</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(66,171</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">18,941</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">18,941</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,391</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,547</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">16,698</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">4,884</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">4,884</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">243</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">23,189</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">3,719</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(16,348</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">10,803</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(5,817</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">1,402</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">609</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(3,806</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">137,157</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">727,508</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">123,452</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">988,117</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Property Sales</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Sales price</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">5,050</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">29,969</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">35,019</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Cost of sale</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(2,659</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(23,538</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(26,197</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Recognized prior deferred gain</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain on sale</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">2,391</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">6,431</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">21,582</td></tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock', window );">Schedule of reconciliaton of segment information to consolidated statements of operations</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The table below reconciles the segment information to the corresponding
amounts in the Consolidated Statements of Operations:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>For the Years Ended December 31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in"><b>&#160;</b></td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2017</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 61%; vertical-align: top; padding-left: 0.25in; text-indent: -0.25in">Segment operating income</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">4,965</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">11,685</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">10,803</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.25in; text-indent: -0.25in">Other non-segment items of income (expense)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">General and administrative</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(13,336</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(12,708</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,691</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Net income fee to related party</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(357</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(631</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(250</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Advisory fee to related party</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,612</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(11,475</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(11,082</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Other income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">11,018</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">28,993</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,082</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Gain on disposition of 50% interest in VAA</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">154,126</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Foreign currency translation (loss) gain</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(15,108</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,399</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(4,536</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Loss from joint venture</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(2,774</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">44</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Loss on sale of investments</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(331</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Earnings from unconsolidated investees</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">461</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,469</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">309</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-bottom: 1pt; text-align: left">Income tax expense</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,210</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(180</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.25in; text-indent: -0.25in">Net (loss) income from continuing operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(21,743</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">182,692</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(8,876</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
</table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock', window );">Schedule of reconciliaton segment information to consolidated balance sheets</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below reflects the reconciliation
of the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">126,058</td>
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    <td style="vertical-align: bottom; text-align: right">112,095</td>
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<tr>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">218,996</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">243,047</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">190,112</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">830,641</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">826,149</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">1,296,720</td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803529616">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PREFERRED STOCK (Details Narrative)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>$ / shares </div>
<div>shares</div>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Series A Preferred stock, authorized (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">15,000,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Series A Preferred stock, par value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPayableAmountPerShare', window );">Dividends payable annually (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DividendsPayableAmountQuartelyPerShare', window );">Dividends payable quarterly (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.25<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Series A Preferred stock, authorized (in shares) | shares</a></td>
<td class="nump">15,000,000<span></span>
</td>
<td class="nump">15,000,000<span></span>
</td>
<td class="nump">15,000,000<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Series A Preferred stock, par value (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="nump">$ 2.00<span></span>
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<td class="nump">$ 2.00<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockLiquidationPreference', window );">Series A Preferred stock, liquidation preference (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 10.00<span></span>
</td>
<td class="nump">$ 10.00<span></span>
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<td class="nump">$ 10.00<span></span>
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<td class="nump">10.00%<span></span>
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<td class="nump">10.00%<span></span>
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<td class="nump">0.90<span></span>
</td>
<td class="nump">0.90<span></span>
</td>
<td class="nump">0.90<span></span>
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</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="text">20 days<span></span>
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<td class="text">20 days<span></span>
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<td class="nump">614<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="nump">614<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember', window );">Series A Preferred Stock [Member] | Stock Transfer Agreement [Member] | Realty Advisors, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
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<td class="nump">900,000<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase consideration | $</a></td>
<td class="nump">$ 9,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Series A Preferred stock, outstanding (in shares) | shares</a></td>
<td class="nump">614<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">614<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PurchaseOfAccruedUnpaidDividends', window );">Purchase of accrued unpaid dividends | $</a></td>
<td class="nump">$ 9,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember', window );">Series A Preferred Stock [Member] | Stock Transfer Agreement [Member] | Transcontinential Realty Investors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Series A Preferred stock, outstanding (in shares) | shares</a></td>
<td class="nump">1,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,800,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_BusinessCombinationConsiderationTransferredEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represent entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_BusinessCombinationConsiderationTransferredEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DividendsPayableAmountQuartelyPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The per share value of dividends payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DividendsPayableAmountQuartelyPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NumberOfTradingDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of trading days in computing common stock price upon conversion od convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NumberOfTradingDays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PercentageOfAverageDailyClosingPriceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the average daily closing price of common stock computed upon conversion of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PercentageOfAverageDailyClosingPriceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PurchaseOfAccruedUnpaidDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of unpaid dividends purchased with preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PurchaseOfAccruedUnpaidDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6578-128477<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPayableAmountPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The per share amount of a dividend declared, but not paid, as of the financial reporting date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsPayableAmountPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendRatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage rate used to calculate dividend payments on preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockDividendRatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockLiquidationPreference">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(d)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(d)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21484-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockLiquidationPreference</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=arl_StockTransferAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=arl_StockTransferAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=arl_RealtyAdvisorsIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=arl_RealtyAdvisorsIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=arl_TranscontinentialRealtyInvestorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=arl_TranscontinentialRealtyInvestorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R61.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6828872176">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>BONDS AND BONDS INTEREST PAYABLE (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Less: deferred bond issuance costs</a></td>
<td class="num">$ (7,342)<span></span>
</td>
<td class="num">$ (9,428)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Accrued Interest</a></td>
<td class="nump">779<span></span>
</td>
<td class="nump">861<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember', window );">Bonds Series A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsPayable', window );">Total outstanding bonds</a></td>
<td class="nump">92,653<span></span>
</td>
<td class="nump">106,686<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember1Member', window );">Nonconvertible Series B Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsPayable', window );">Total outstanding bonds</a></td>
<td class="nump">39,844<span></span>
</td>
<td class="nump">36,740<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_BondsSeriesBExpansionMember', window );">Bonds (Series B expansion) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsPayable', window );">Total outstanding bonds</a></td>
<td class="nump">20,920<span></span>
</td>
<td class="nump">19,290<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_BondsSeriesCMember', window );">Bonds (Series C) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsPayable', window );">Total outstanding bonds</a></td>
<td class="nump">79,572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_BondsPayableMember', window );">Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsPayable', window );">Total outstanding bonds</a></td>
<td class="nump">232,989<span></span>
</td>
<td class="nump">162,716<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Less: deferred bond issuance costs</a></td>
<td class="num">(9,724)<span></span>
</td>
<td class="num">(8,179)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_TotalOutstandingBondsNet', window );">Total outstanding bonds, net</a></td>
<td class="nump">223,265<span></span>
</td>
<td class="nump">154,537<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Accrued Interest</a></td>
<td class="nump">6,457<span></span>
</td>
<td class="nump">4,037<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_TotalOustandingBondsNetAndAccruredInterest', window );">Total oustanding bonds, net and accrued interest</a></td>
<td class="nump">$ 229,722<span></span>
</td>
<td class="nump">$ 158,574<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_BondsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents bonds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_BondsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_TotalOustandingBondsNetAndAccruredInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total oustanding bonds, net and accrured interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_TotalOustandingBondsNetAndAccruredInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_TotalOutstandingBondsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents bonds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_TotalOutstandingBondsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest payable on debt, including, but not limited to, trade payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_BondsSeriesBExpansionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_BondsSeriesBExpansionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_BondsSeriesCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_BondsSeriesCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_BondsPayableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_BondsPayableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803937824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND FEES (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesUnclassifiedAbstract', window );"><strong>Related party receivables [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Related party receivable at beginning</a></td>
<td class="nump">$ 70,377<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AdvisoryFeeToRelatedParty', window );">Advisory fees</a></td>
<td class="num">(6,612)<span></span>
</td>
<td class="num">$ (11,475)<span></span>
</td>
<td class="num">$ (11,082)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NetIncomeFeeToRelatedParty1', window );">Net income fee</a></td>
<td class="num">(357)<span></span>
</td>
<td class="num">(631)<span></span>
</td>
<td class="num">(250)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Related party receivable at end</a></td>
<td class="nump">85,996<span></span>
</td>
<td class="nump">70,377<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember', window );">Pillar Income Asset Management, Inc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesUnclassifiedAbstract', window );"><strong>Related party receivables [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Related party receivable at beginning</a></td>
<td class="nump">70,377<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt', window );">Cash transfers</a></td>
<td class="nump">38,139<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AdvisoryFeeToRelatedParty', window );">Advisory fees</a></td>
<td class="num">(6,612)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NetIncomeFeeToRelatedParty1', window );">Net income fee</a></td>
<td class="num">(357)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedCostReimbursements', window );">Cost reimbursements</a></td>
<td class="num">(4,265)<span></span>
</td>
<td class="num">(4,720)<span></span>
</td>
<td class="num">$ (3,240)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_InterestIncomeRelatedPartyReceivable', window );">Interest income</a></td>
<td class="nump">4,686<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NotesReceivablePurchasedRelatedParty', window );">Notes receivable purchased</a></td>
<td class="num">(28,669)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesCommissionsAndFees', window );">Fees and commissions</a></td>
<td class="num">(71)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty', window );">Expenses (paid) received by Advisor</a></td>
<td class="nump">10,521<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RelatedPartyFinancingMortgagePayments', window );">Financing (mortgage payments)</a></td>
<td class="num">(299)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_SalesPurchasesCommission', window );">Sales/purchases Commission</a></td>
<td class="num">(318)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent', window );">Intercompany property transfers</a></td>
<td class="nump">2,864<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Related party receivable at end</a></td>
<td class="nump">$ 85,996<span></span>
</td>
<td class="nump">$ 70,377<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AdvisoryFeeToRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advisory fees to related parties, during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AdvisoryFeeToRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedCostReimbursements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to due from related party payment for cost of reimbursements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedCostReimbursements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_InterestIncomeRelatedPartyReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest income related party receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_InterestIncomeRelatedPartyReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NetIncomeFeeToRelatedParty1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income fee to related parties during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NetIncomeFeeToRelatedParty1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NotesReceivablePurchasedRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of notes receivable purchased from related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NotesReceivablePurchasedRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RelatedPartyFinancingMortgagePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to due from related party payment for financing mortgage payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RelatedPartyFinancingMortgagePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_SalesPurchasesCommission">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount represents value of sales or and purchases commission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_SalesPurchasesCommission</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesUnclassifiedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesUnclassifiedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from long-term debt by a related party. Related parties, include, but are not limited to, affiliates, owners or officers and their immediate families, and pension trusts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of any current tax-related balances due from affiliates as of the date of each statement of financial position presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTaxExpenseDueFromAffiliatesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesCommissionsAndFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Primarily represents commissions incurred in the period based upon the sale by commissioned employees or third parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by third parties (such as a distributor or value added reseller).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesCommissionsAndFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6805650208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>OPERATING SEGMENTS (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="12">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Sep. 30, 2019</div></th>
<th class="th"><div>Jun. 30, 2019</div></th>
<th class="th"><div>Mar. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating income</a></td>
<td class="num">$ (3,430)<span></span>
</td>
<td class="num">$ (1,866)<span></span>
</td>
<td class="num">$ (4,377)<span></span>
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<td class="num">$ (1,735)<span></span>
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<td class="nump">$ 140<span></span>
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<td class="nump">$ 5,210<span></span>
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<td class="nump">$ 3,617<span></span>
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<td class="nump">$ 4,918<span></span>
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<td class="nump">$ 2,713<span></span>
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<td class="nump">$ 5,410<span></span>
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<td class="nump">$ 4,828<span></span>
</td>
<td class="nump">$ 4,477<span></span>
</td>
<td class="num">$ (11,408)<span></span>
</td>
<td class="nump">$ 13,885<span></span>
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<td class="nump">$ 17,428<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_OtherNonSegmentItemsOfIncomeExpenseAbstract', window );"><strong>Other non-segment items of income (expense)</strong></a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(13,336)<span></span>
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<td class="num">(12,708)<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NetIncomeFeeToRelatedParty1', window );">Net income fee to related party</a></td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(357)<span></span>
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<td class="num">(631)<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AdvisoryFeeToRelatedParty', window );">Advisory fee to related party</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(6,612)<span></span>
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<td class="num">(11,082)<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other income</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">11,018<span></span>
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<td class="nump">28,993<span></span>
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<td class="nump">4,082<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal', window );">Gain on disposition of 50% interest in VAA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">154,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency translation (loss) gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,108)<span></span>
</td>
<td class="nump">12,399<span></span>
</td>
<td class="num">(4,536)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossOnSaleOfInvestments', window );">Loss on sale of investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(331)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Earnings from unconsolidated investees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">461<span></span>
</td>
<td class="nump">1,469<span></span>
</td>
<td class="nump">309<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="num">$ (418)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (418)<span></span>
</td>
<td class="num">$ (792)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (180)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,210<span></span>
</td>
<td class="nump">180<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperations', window );">Net (loss) income from continuing operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(21,743)<span></span>
</td>
<td class="nump">182,692<span></span>
</td>
<td class="num">(8,876)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember', window );">Operating Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Segment operating income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,965<span></span>
</td>
<td class="nump">11,685<span></span>
</td>
<td class="nump">10,803<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidationItemsAxis=us-gaap_MaterialReconcilingItemsMember', window );">Segment Reconciling Items [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_OtherNonSegmentItemsOfIncomeExpenseAbstract', window );"><strong>Other non-segment items of income (expense)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13,336)<span></span>
</td>
<td class="num">(12,708)<span></span>
</td>
<td class="num">(7,691)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NetIncomeFeeToRelatedParty1', window );">Net income fee to related party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(357)<span></span>
</td>
<td class="num">(631)<span></span>
</td>
<td class="num">(250)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AdvisoryFeeToRelatedParty', window );">Advisory fee to related party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,612)<span></span>
</td>
<td class="num">(11,475)<span></span>
</td>
<td class="num">(11,082)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,018<span></span>
</td>
<td class="nump">28,993<span></span>
</td>
<td class="nump">4,082<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal', window );">Gain on disposition of 50% interest in VAA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">154,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency translation (loss) gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,108)<span></span>
</td>
<td class="nump">12,399<span></span>
</td>
<td class="num">(4,536)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_EarningsFromJointVenture', window );">Loss from joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,774)<span></span>
</td>
<td class="nump">44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossOnSaleOfInvestments', window );">Loss on sale of investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(331)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Earnings from unconsolidated investees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">461<span></span>
</td>
<td class="nump">1,469<span></span>
</td>
<td class="nump">309<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,210)<span></span>
</td>
<td class="num">(180)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperations', window );">Net (loss) income from continuing operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (21,743)<span></span>
</td>
<td class="nump">$ 182,692<span></span>
</td>
<td class="num">$ (8,876)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AdvisoryFeeToRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advisory fees to related parties, during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AdvisoryFeeToRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_EarningsFromJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee the joint venture.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_EarningsFromJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NetIncomeFeeToRelatedParty1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income fee to related parties during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NetIncomeFeeToRelatedParty1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_OtherNonSegmentItemsOfIncomeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_OtherNonSegmentItemsOfIncomeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of an equity method investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30700-110894<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of income (loss) from continuing operations attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4613673-111683<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109237563&amp;loc=d3e33749-111570<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossOnSaleOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the carrying value and the sale price of an investment.  A loss would be recognized when the sale price of the investment is less than the carrying value of the investment. This element refers to the Loss included in earnings and not to the cash proceeds of the sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(9)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(3)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(7)(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossOnSaleOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (expense) related to nonoperating activities, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidationItemsAxis=us-gaap_MaterialReconcilingItemsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidationItemsAxis=us-gaap_MaterialReconcilingItemsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<head>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6807486112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward', window );"><strong>Reconciliation of Real Estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Balance at at beginning</a></td>
<td class="nump">$ 459,142<span></span>
</td>
<td class="nump">$ 1,165,662<span></span>
</td>
<td class="nump">$ 1,066,603<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAdditionsAbstract', window );"><strong>Additions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateOtherAcquisitions', window );">Acquisitions, improvements and construction</a></td>
<td class="nump">97,554<span></span>
</td>
<td class="nump">576,232<span></span>
</td>
<td class="nump">129,483<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateDeductionsAbstract', window );"><strong>Deductions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateCostOfRealEstateSold', window );">Sale of real estate</a></td>
<td class="num">(78,733)<span></span>
</td>
<td class="num">(1,282,752)<span></span>
</td>
<td class="num">(30,424)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateGrossAtCarryingValue', window );">Balance at ending</a></td>
<td class="nump">477,963<span></span>
</td>
<td class="nump">459,142<span></span>
</td>
<td class="nump">1,165,662<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward', window );"><strong>Reconciliation of Accumulated Depreciation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Balance at at beginning</a></td>
<td class="nump">78,099<span></span>
</td>
<td class="nump">177,546<span></span>
</td>
<td class="nump">165,597<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAccumulatedDepreciationAdditionsAbstract', window );"><strong>Additions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense', window );">Depreciation</a></td>
<td class="nump">13,379<span></span>
</td>
<td class="nump">22,670<span></span>
</td>
<td class="nump">24,417<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateAccumulatedDepreciationDeductionsAbstract', window );"><strong>Deductions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold', window );">Sale of real estate</a></td>
<td class="num">(1,305)<span></span>
</td>
<td class="num">(122,117)<span></span>
</td>
<td class="num">(12,468)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Balance at ending</a></td>
<td class="nump">$ 90,173<span></span>
</td>
<td class="nump">$ 78,099<span></span>
</td>
<td class="nump">$ 177,546<span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateAccumulatedDepreciationAdditionsAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateAccumulatedDepreciationDeductionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateAccumulatedDepreciationDeductionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateAdditionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateAdditionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateDeductionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation pertaining to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column F))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease to accumulated depreciation for real estate investments sold for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Footnote 4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAccumulatedDepreciationRealEstateSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateCostOfRealEstateSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investments sold for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Footnote 4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateCostOfRealEstateSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateGrossAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before accumulated depreciation, of real estate investment by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Excludes real estate not held as investment or interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column E))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateGrossAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateOtherAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in real estate investments from acquisitions other than through foreclosure for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Footnote 4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateOtherAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of depreciation expense of real estate investments for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Footnote 4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6822272016">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INCOME TAXES (Details 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetAbstract', window );"><strong>Deferred Tax Assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts', window );">Allowance for losses on Notes</a></td>
<td class="nump">$ 2,751<span></span>
</td>
<td class="nump">$ 2,879<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction', window );">Deferred Gain</a></td>
<td class="nump">5,200<span></span>
</td>
<td class="nump">3,999<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsUnrealizedCurrencyLosses', window );">Foreign currency translations</a></td>
<td class="nump">1,521<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net Operating Loss Carryforward</a></td>
<td class="nump">18,371<span></span>
</td>
<td class="nump">8,700<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Total Deferred Tax Assets</a></td>
<td class="nump">27,843<span></span>
</td>
<td class="nump">15,578<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Less: Valuation Allowance</a></td>
<td class="num">(21,180)<span></span>
</td>
<td class="num">(12,246)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNet', window );">Total Net Deferred Tax Assets</a></td>
<td class="nump">6,663<span></span>
</td>
<td class="nump">3,332<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesNetAbstract', window );"><strong>Total Deferred Tax Liability</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment', window );">Basis Differences for fixed assets</a></td>
<td class="num">(6,663)<span></span>
</td>
<td class="num">(3,332)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxLiabilities', window );">Total Deferred Tax Liability</a></td>
<td class="num">(6,663)<span></span>
</td>
<td class="num">(3,332)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNet', window );">Current Net Deferred Tax Asset</a></td>
<td class="nump">6,663<span></span>
</td>
<td class="nump">3,332<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxLiabilities', window );">Long-Term Net Deferred Tax Liability</a></td>
<td class="num">(6,663)<span></span>
</td>
<td class="num">(3,332)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNet', window );">Net deferred tax asset (liability)</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(15)(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from a gain reported for tax purposes on sale and leaseback transactions in accordance with enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=117330534&amp;loc=d3e28680-109314<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=117330534&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from the allowance for doubtful accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=117330534&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsUnrealizedCurrencyLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from unrealized losses on foreign currency transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=117330534&amp;loc=d3e28680-109314<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsUnrealizedCurrencyLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=117330534&amp;loc=d3e28680-109314<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6825086128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>REAL ESTATE (Details Narrative)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="11">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>a</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on sale of land</a></td>
<td class="nump">$ 5,400<span></span>
</td>
<td class="nump">$ 5,139<span></span>
</td>
<td class="nump">$ 2,517<span></span>
</td>
<td class="nump">$ 2,216<span></span>
</td>
<td class="nump">$ 3,826<span></span>
</td>
<td class="nump">$ 12,243<span></span>
</td>
<td class="nump">$ 1,335<span></span>
</td>
<td class="nump">$ 3,853<span></span>
</td>
<td class="nump">$ 1,062<span></span>
</td>
<td class="num">$ (476)<span></span>
</td>
<td class="nump">$ 445<span></span>
</td>
<td class="nump">$ 15,272<span></span>
</td>
<td class="nump">$ 17,404<span></span>
</td>
<td class="nump">$ 4,884<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment', window );">Purchase price of properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,558<span></span>
</td>
<td class="nump">$ 37,044<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PaymentsToConstructionAndDevelopRealEstateAssets', window );">Payment for construction or predevelopment of various apartment complexes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInventoryCapitalizedInterestCosts', window );">Capitalized interest costs</a></td>
<td class="nump">800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireLand', window );">Payments to acquire land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,422<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_ThirdPartyLandDeveloperMember', window );">Third Party Land Developer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandPurchased', window );">Area of land purchased | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment', window );">Purchase price of properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_FarmersBranchTexasMember', window );">Farmers Branch, Texas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandSold', window );">Area of land sold | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfLandHeldforinvestment', window );">Proceeds from sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_ForneyTexasMember', window );">Forney, Texas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandSold', window );">Area of land sold | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfLandHeldforinvestment', window );">Proceeds from sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_DallasTexasMember', window );">Dallas Texas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandSold', window );">Area of land sold | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.33<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfLandHeldforinvestment', window );">Proceeds from sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_NashvilleTennesseeMember', window );">Nashville, Tennessee [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandSold', window );">Area of land sold | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfLandHeldforinvestment', window );">Proceeds from sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_FortWorthTexasMember', window );">Fort Worth Texas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandSold', window );">Area of land sold | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23.24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfLandHeldforinvestment', window );">Proceeds from sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_GainLossOnLandSales', window );">Gain on sale of land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_MaryEsterFloridaMember', window );">Mary Ester, Florida [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfProductiveAssets', window );">Proceeds from sale of property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfProperties', window );">Gain (loss) on sale of property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndCollectionOfReceivables', window );">Proceeds from sale of receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandPurchased', window );">Area of land purchased | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_AthensAlabamaMember', window );">Athens, Alabama [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandPurchased', window );">Area of land purchased | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33.05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment', window );">Purchase price of properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireLand', window );">Payments to acquire land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_AthensAlabamaMember', window );">Athens, Alabama [Member] | Note Payable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debt instrument principal amount</a></td>
<td class="nump">$ 1,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Maturity term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">18 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="nump">5.91%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.91%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_CollinCountyTexasMember', window );">Collin County, Texas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandPurchased', window );">Area of land purchased | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_CollinCountyTexasMember', window );">Collin County, Texas [Member] | Third Party Land Developer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandPurchased', window );">Area of land purchased | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.94<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment', window );">Purchase price of properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=arl_ClarkCountyNevadaMember', window );">Clark County, Nevada[Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AreaOfLandPurchased', window );">Area of land purchased | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AreaOfLandPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The area of land purchased during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AreaOfLandPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AreaOfLandSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The area of land sold during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AreaOfLandSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_GainLossOnLandSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of gain (loss) on sale of land during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_GainLossOnLandSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PaymentsToConstructionAndDevelopRealEstateAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments for predevelopment and construction of real estate assets is the process of adding improvements on or to a parcel of land.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PaymentsToConstructionAndDevelopRealEstateAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109226691&amp;loc=d3e2941-110230<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2443-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow from the acquisition of real estate intended to generate income for the owner; excludes land acquired for use by the owner.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the purchase of real estate held for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireRealEstateHeldForInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleAndCollectionOfReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the proceeds from sale and collection of receivables during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleAndCollectionOfReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfLandHeldforinvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale of land held for investment; excludes sales of land held as inventory or productive use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfLandHeldforinvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfProductiveAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale of property, plant and equipment (capital expenditures), software, and other intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfProductiveAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInventoryCapitalizedInterestCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of interest costs that were capitalized to properties under development during the land development and construction period of a project, and which are included in inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInventoryCapitalizedInterestCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_ThirdPartyLandDeveloperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_ThirdPartyLandDeveloperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_FarmersBranchTexasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_FarmersBranchTexasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_ForneyTexasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_ForneyTexasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_DallasTexasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_DallasTexasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_NashvilleTennesseeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_NashvilleTennesseeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_FortWorthTexasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_FortWorthTexasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_MaryEsterFloridaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_MaryEsterFloridaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_AthensAlabamaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_AthensAlabamaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NotesPayableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_CollinCountyTexasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_CollinCountyTexasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=arl_ClarkCountyNevadaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=arl_ClarkCountyNevadaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803409664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES AND INTEREST RECEIVABLE (Details Narrative) - Related Parties [Member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Jun. 30, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableRelatedParties', window );">Notes receivable due from related parties</a></td>
<td class="nump">$ 103,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeRelatedParty', window );">Interest income from these related party notes receivable</a></td>
<td class="nump">$ 11,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember', window );">TCI [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableRelatedParties', window );">Notes receivable due from related parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 29,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableRelatedParties', window );">Accrued interest receivables from related parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amount of receivables arising from transactions with related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestIncomeRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest income earned from interest-bearing assets owed to the entity by related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803279008">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>NOTES AND INTEREST PAYABLE (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2020</a></td>
<td class="nump">$ 34,304<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2021</a></td>
<td class="nump">55,393<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2022</a></td>
<td class="nump">13,437<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2023</a></td>
<td class="nump">36,770<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2024</a></td>
<td class="nump">1,995<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive', window );">Thereafter</a></td>
<td class="nump">119,537<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total</a></td>
<td class="nump">$ 261,436<span></span>
</td>
<td class="nump">$ 295,535<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797056448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BONDS AND BONDS INTEREST PAYABLE (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsAndBondsInterestPayableAbstract', window );"><strong>Bonds And Bonds Interest Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of bonds and interest payable</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The
outstanding balance of these Bonds at December 31, 2019 and 2018 were as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse">
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<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
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    <td>&#160;</td>
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    <td style="width: 72%; vertical-align: top">Bonds
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    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 11%; vertical-align: bottom; text-align: right">92,653</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 11%; vertical-align: bottom; text-align: right">106,686</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Bonds (Series B)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">39,844</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">36,740</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Bonds (Series B
    expansion)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">20,920</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">19,290</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Bonds (Series C)</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">79,572</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Total outstanding
    bonds</b></td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">232,989</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">162,716</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Less: deferred bond
    issuance costs</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(9,724</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(8,179</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Total outstanding
    bonds, net</b></td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">223,265</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">154,537</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Accrued Interest</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">6,457</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">4,037</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Total outstanding
    bonds, net and accrued interest</b></td>
    <td>&#160;</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right">229,722</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right">158,574</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p><span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Schedule of aggregate maturity of the bonds</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The aggregate maturities of the bonds are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

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<tr>
    <td style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: left"><b>Year</b></td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"><b>Aggregate <br />Maturities</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 81%; vertical-align: top">2020</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 16%; vertical-align: bottom; text-align: right">23,148</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2021</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">35,301</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">2022</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">35,301</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2023</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">114,873</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">2024</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,153</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Thereafter</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">12,213</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">232,989</td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28541-108399<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21506-112644<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(e),(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28551-108399<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21521-112644<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21538-112644<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&amp;loc=d3e64711-112823<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810829216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUPPLEMENTAL CASH FLOW INFORMATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowElementsAbstract', window );"><strong>Supplemental Cash Flow Elements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock', window );">Schedule of reconciliation of cash and cash equivalents and restricted cash</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
following is a reconciliation of the Company&#8217;s cash and cash equivalents, and restricted cash to the total presented in
the consolidated statement of cash flows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px">
<tr>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><b>December
    31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="width: 70%; vertical-align: bottom; white-space: nowrap">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Cash
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">51,228</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">36,428</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">15,540</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">37,928</td>
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<tr style="background-color: #cceeff">
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    cash (certificate of deposits)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,759</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">9,687</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Restricted
    cash (held with Trustee)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12,784</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">22,572</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 0.25in">Total
    cash, cash equivalents and restricted cash</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">83,311</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">106,615</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797114304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SCHEDULE IV MORTGAGE LOANS RECEIVABLE ON REAL ESTATE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ScheduleIvMortgageLoansReceivableOnRealEstateAbstract', window );"><strong>Schedule Iv Mortgage Loans Receivable On Real Estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock', window );">MORTGAGE LOANS RECEIVABLE ON REAL ESTATE</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>SCHEDULE
IV</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>MORTGAGE
LOANS RECEIVABLE</b><br />
<b>December 31, 2019&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin: 0px">
<tr>
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    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"><b>Periodic
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    <td style="vertical-align: bottom; text-align: left; text-indent: 0px">&#160;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"><b>Prior
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    <td style="vertical-align: bottom; text-align: left; text-indent: 0px">&#160;</td>
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    <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; text-indent: 0px"><b>Face
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    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left; text-indent: 0px">&#160;</td>
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    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left; text-indent: 0px">&#160;</td>
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<tr>
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<tr style="background-color: #cceeff">
    <td style="width: 37%; vertical-align: top">Prospectus
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    <td style="width: 1%">&#160;</td>
    <td style="width: 6%; vertical-align: bottom; text-align: center">12.00%</td>
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    <td style="width: 12%; vertical-align: bottom; text-align: left">Excess
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    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 6%; vertical-align: bottom; text-align: right">&#8212;</td>
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<tr>
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    <td>&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Oulan-Chikh Family
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr>
    <td style="vertical-align: top"><b>H198, LLC</b></td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,868</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">5.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,083</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,288</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr>
    <td style="vertical-align: top">Bellwether Ridge</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">5.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">May-20</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,429</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,765</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Parc at Windmill
    Farms</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">5.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">May-20</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,066</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7,602</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Echo Station)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">9,719</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,794</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,481</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in">100%
    Interest in UH of Temple, LLC</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Inwood on the Park/UH of Inwood, LLC)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">22,227</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,462</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,639</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">100% Interest in
    UH of Inwood, LLC</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Kensington Park/UH of Kensington, LLC)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">18,723</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,310</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,933</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">100% Interest in
    UH of Kensington, LLC</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,965</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,959</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,000</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">100% Interest in
    HFS of Humble, LLC</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (31.5% of cash flow)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,756</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">8,836</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,369</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Interest in Unified
    Housing Foundation Inc.</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (68.5% of cash flow)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,965</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,959</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,732</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,953</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr style="background-color: #cceeff">
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    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,000</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7,294</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,702</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,323</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr>
    <td style="vertical-align: bottom; text-align: left"><b>Unified
    Housing Foundation, Inc. (Trails at White Rock)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">21,712</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,815</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,815</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">100% Interest in
    UH of Harvest Hill III, LLC</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; text-align: left"><b>Unified
    Housing Foundation, Inc (2015 Advisory Fee)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,994</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc (2008-2014 Advisory Fee)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,407</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; text-align: left"><b>Unified
    Housing Foundation, Inc (2018 Advisory Fee)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Jun-20</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,314</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Mar-22</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,782</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">RAI UHF 2019 Advisory
    Fee Note</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Jul-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">838</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2018 Refin Fee (Lakeshore
    Villas)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Jul-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">773</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2018 Refin Fee (Limestone
    Ranch)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Jul-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">839</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2018 Refin Fee (Marquis
    @ Vista Ridge)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Jul-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">432</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2018 Refin Fee (Timbers
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Jul-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">913</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2018 Refin Fee (Trails
    @ White Rock)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Aug-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">212</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2018 Refin Fee (Bella
    Vista)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Oct-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,980</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2017 Fees on Sale
    LSC/SR/PKCR</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Oct-21</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,851</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">2017 Fees on Profit
    LSC/SR/PKCR</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Walnut Park Crossing)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">340</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">369</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Unified Housing
    Foundation, Inc. (Terraces of Marine Creek/Blue Lake at Marine Creek)</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">12.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-32</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">140</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">128</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; text-align: left"><b>Realty
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">2.28%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Dec-22</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Interest
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">20,387</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">20,387</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>One Realco Corporation
    <sup>(1)</sup></b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">3.00%</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Jan-20</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">10,000</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7,000</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Various related
    party notes</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Various</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Various</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">Excess
    cash flow</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,553</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Various non-related
    party notes</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center">Various</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">(1)
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>MORTGAGE
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<tr>
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<tr>
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<tr style="background-color: #cceeff">
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding three percent of carrying amount of mortgage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock</td>
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<html>
<head>
<title></title>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6673270592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUPPLEMENTAL CASH FLOW INFORMATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowSupplementalDisclosuresTextBlock', window );">SUPPLEMENTAL CASH FLOW INFORMATION</a></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For
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respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash
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respectively. The following is a reconciliation of the Company&#8217;s cash and cash equivalents, and restricted cash to the total
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="width: 70%; vertical-align: bottom; white-space: nowrap">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Cash
    and cash equivalents</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">51,228</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">36,428</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Restricted
    cash (cash held in escrow)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">15,540</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">37,928</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Restricted
    cash (certificate of deposits)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,759</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">9,687</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Restricted
    cash (held with Trustee)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12,784</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">22,572</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 0.25in">Total
    cash, cash equivalents and restricted cash</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">83,311</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">106,615</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Amounts
included in restricted cash represent funds required to meet contractual obligations with certain financial institutions for the
payment of reserve replacement deposits and tax and insurance escrow. In addition, restricted cash includes funds to the Bond&#8217;s
Trustee for payment of principal and interests.</p><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -URI http://asc.fasb.org/topic&amp;trid=2134446<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821585568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BONDS AND BONDS INTEREST PAYABLE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsAndBondsInterestPayableAbstract', window );"><strong>Bonds And Bonds Interest Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsAndBondsInterestPayableDisclosureTextBlock', window );">BONDS AND BONDS INTEREST PAYABLE</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
8.</b>&#160;&#160;&#160;&#160;&#160;&#160; <b><i>BONDS AND BONDS INTEREST PAYABLE</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
August 2016, Southern Properties Capital LTD (&#8220;Southern&#8221;), a British Virgin Islands corporation was incorporated for
the purpose of raising funds by issuing Bonds to be traded on the Tel Aviv Stock Exchange (&#8220;TASE&#8221;).&#160; The Company
transferred certain residential and commercial properties located in the United States to Southern, its wholly owned subsidiary.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
February 13, 2017, Southern filed a final prospectus with the TASE for an offering and sale of nonconvertible Series A Bonds to
be issued by Southern. The bonds are obligations of Southern.&#160; During the year ended December 31, 2017 on three separate
occasions Southern issued nonconvertible Series A Bonds with a total value of approximately NIS400 million New Israeli Shekels
(&#8220;NIS&#8221;) or approximately $115 million dollars.&#160; The Series A Bonds have a stated interest rate of 7.3%.&#160;
At March 31, 2018 the effective interest rate is 9.17%. The bonds require semi-annual equal installments on January 31 and July
31 of each year from 2019 to 2023 (inclusive). The interest will be repaid on January 31 and July 31 of each of the years 2018
to 2023 (inclusive), with the first payment commencing on July 31, 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
January 25, 2018, interest payment of approximately NIS 14.6 million (or approximately $4.3 million) was paid to the Series A
bondholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
February&#160;15, 2018, Southern issued Series B bonds in the amount of NIS&#160;137.7 million par value (approximately $39.2
million as of February&#160;15, 2018). The Series B bonds are registered on the TASE. The bonds are reported in NIS and bear annual
interest rate of 6.8%. Interest shall be repaid January&#160;31 and July 31 of each of the years 2019 to 2023 (inclusive), first
payment commencing on July 31, 2018. The principal shall be repaid in ten equal installments on January 31 and July&#160;31 of
each of the years from 2021 to 2025 (inclusive). A total bond issuance cost of $1.4 million was incurred. The effective interest
rate is 7.99%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
July 19, 2018, Southern closed a private placement of its Series B bonds in the amount of NIS 72.3 million (or approximately $19.8
million). The bonds are reported in NIS, are registered on the TASE, bear an annual interest rate of 6.8% and have an effective
interest rate of 9.60%. Interest will be paid on January 31 and July 31 of each of the years 2019 and 2013 (inclusive). The principal
will be repaid in ten equal installment on January 31 and July 31 of each of the years from 2021 to 2012 (inclusive). The Company
incurred bonds issuance costs of approximately $1.9 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
July 26, 2018, interest payment of approximately NIS 18.9 million (or approximately $5.2 million) was paid to the Series A and
B bondholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
July 28, 2019, SPC issued Series C bonds in the amount of NIS 275 million (or approximately $78.1 million). The bonds are reported
in NIS, and registered on the TASE, and bear an annual interest of 4.65%. The interest will be paid on January 31 and July 31
of each of the years 2020 through 2023, with the principal payment due in 2023. The Company incurred bond issuance costs of approximately
$4.2 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
September 23, 2019, Southern entered into a foreign exchange risk hedging transaction agreement with Bank Leumi with the aim of
hedging the risk that the NIS exchange rate against the dollar will fall below 3, thereby reducing the exposure of the bonds (Series
A, B and C) to exchange rate volatility.&#160; The term of the agreement is six months and the face value of the transaction is
NIS 664 million ($ 221 million).&#160; The hedge transaction costs as well as the fair value as of December 31, 2019 are immaterial.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During
the year ended December 31, 2019, the Company made payments of $21.8 million and $11.6 million on bond principal and interests,
respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
January 27, 2020, the Company made payments of NIS 60.6 million in bond principal on the Series A and interests on the Series
A, B, C (or approximately $17.6 million).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 2, 2020, S&#38;P Global Ratings
announced the increase of the Company's issuer rating to 'ilA-' from 'ilBBB+' for Bonds (Series A and B). In addition, Series
C bond rating (secured by one of SPC&#8217;s commercial properties) increase to 'ilA' from 'ilA-' rating due to the expectation
of continued improvement in coverage ratios and the expansion of Company&#8217;s portfolio.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The
outstanding balance of these Bonds at December 31, 2019 and 2018 were as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0px; width: 90%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="6" style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center"><b>December
    31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 72%; vertical-align: top">Bonds
    (Series A)</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 11%; vertical-align: bottom; text-align: right">92,653</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 11%; vertical-align: bottom; text-align: right">106,686</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Bonds (Series B)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">39,844</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">36,740</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Bonds (Series B
    expansion)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">20,920</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">19,290</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Bonds (Series C)</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">79,572</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Total outstanding
    bonds</b></td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">232,989</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">162,716</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Less: deferred bond
    issuance costs</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(9,724</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">(8,179</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Total outstanding
    bonds, net</b></td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">223,265</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">154,537</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Accrued Interest</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">6,457</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">4,037</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Total outstanding
    bonds, net and accrued interest</b></td>
    <td>&#160;</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right">229,722</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: right">158,574</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The
aggregate maturities of the bonds are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 60%">
<tr>
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    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">35,301</td>
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    <td style="vertical-align: bottom; text-align: right">35,301</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">114,873</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">12,153</td>
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    <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">12,213</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-bottom: 0">The
recorded unrealized gain or loss is reflected as a separate line item to highlight the fact that it is a non-cash transaction
until such time as actual payment of principal and interest on the bonds is made. For the year ended December 31, 2019 and 2018,
the Company recorded a loss on foreign currency transaction of approximately $15.1 million, and a gain of $12.4 million, respectively.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of bonds and bonds interest payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810790400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PREFERRED STOCK<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockTextBlock', window );">PREFERRED STOCK</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
12.</b>&#160;&#160;&#160;&#160; <b><i>PREFERRED STOCK</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under
ARL&#8217;s Amended Articles of Incorporation, 15,000,000 shares of Series A 10.0% Cumulative Convertible Preferred Stock are
authorized to be issued with a par value of $2.00 per share with a liquidation preference of $10.00 per share plus accrued and
unpaid dividends. Dividends are payable at the annual rate of $1.00 per share, or $.25 per share quarterly, to stockholders of
record on the last day of each March, June, September, and December, when and as declared by the Board of Directors. The Series
A Preferred Stock may be converted into common stock at 90.0% of the average daily closing price of ARL&#8217;s common stock for
the prior 20 trading days.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On
December 31, 2018, a stock transfer agreement was entered into between Realty Advisors, Inc. (&#8220;RAI&#8221;) and TCI whereby
TCI purchased from RAI 900,000 shares of Series A Preferred Stock for a total purchase price of approximately $9 million.&#160;
Also, as part of the agreement, TCI acquired accrued unpaid dividends on the 900,000 shares of Series A Preferred Stock of approximately
$9.9 million.&#160; At December 31, 2018, 1.8 million shares of Series A Convertible Preferred Stock have been eliminated in consolidation.&#160;
Unpaid accrued dividends in the amount of $9.9 million have also been eliminated in consolidation.&#160; After these eliminations,
there are 614 shares outstanding of Series A Preferred Stock at December 31, 2019, and 2018.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -URI http://asc.fasb.org/topic&amp;trid=2208762<br></p></div>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797037248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>QUARTERLY RESULTS OF OPERATIONS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract', window );"><strong>Quarterly Financial Information Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationTextBlock', window );">QUARTERLY RESULTS OF OPERATIONS</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
16.</b>&#160;&#160;&#160;&#160; <b><i>QUARTERLY RESULTS OF OPERATIONS</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
following is a tabulation of quarterly results of operations for the years 2019, 2018 and 2017. Quarterly results presented differ
from those previously reported in ARL&#8217;s Form 10-Q due to the reclassification of the operations of properties sold or held
for sale to discontinued operations in accordance with ASC topic 360:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

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    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
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    <td style="vertical-align: top; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>June
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>September
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>December
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    <td style="vertical-align: top; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="width: 52%; vertical-align: top"><b>&#160;</b></td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
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    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">11,929</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,927</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(12,723</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,914</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(8,698</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,304</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(14,589</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,344</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Loss on sale of
    income producing properties</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(80</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain on land sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,216</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,517</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">5,139</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">5,400</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Net loss from continued
    operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(6,482</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,867</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(9,450</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,944</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net loss</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,482</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,867</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,450</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,944</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Less: net (income)
    attributable to non-controlling interest</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">335</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,089</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,879</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,482</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(6,147</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(2,778</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(7,571</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">538</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>PER SHARE DATA</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Earnings per
    share - basic</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Income (loss) from
    continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.41</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.24</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.59</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.12</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Net income (loss)
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.38</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.17</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.47</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.03</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Weighted average
    common shares used in computing earnings per share</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Earnings per
    share - diluted</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Income (loss) from
    continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.41</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.24</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.59</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.12</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net income (loss)
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.38</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.17</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.47</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.03</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Weighted average
    common shares used in computing diluted earnings per share</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>Three
    Months Ended 2018</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>March
    31,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>June
    30,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>September
    30,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>December
    31,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
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    in thousands, except share and per share amounts) </b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="width: 52%; vertical-align: top"><b>&#160;</b></td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 9%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Total operating
    revenues</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">31,083</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">31,607</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">33,409</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">24,857</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Total operating
    expenses</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">26,165</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">27,990</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">28,199</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">24,717</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Operating income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,918</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,617</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,210</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">140</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Other (expense)
    income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(6,638</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,678</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">5,955</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,508</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">(Loss) income&#160;
    before gain on sales, non-contolling interest, and taxes</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,720</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,295</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">11,165</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,368</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Gain on formation
    of joint venture</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">154,126</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain on land sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,335</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,243</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,826</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Income tax expense</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(792</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(418</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income
    from continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(385</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">6,295</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">22,616</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">154,166</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Net (loss) income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(385</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,295</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">22,616</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">154,166</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Less: net (income)
    attributable to non-controlling interest</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(275</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(441</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(2,265</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,012</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Preferred dividend
    requirement</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(225</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(225</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(225</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(226</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(885</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">)</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">5,629</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">&#160;</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">20,126</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">&#160;</td>
    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">147,928</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>PER SHARE DATA</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top"><b>Earnings per
    share - basic</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">(Loss) income from
    continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.06</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">9.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Net (loss) income
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.06</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">1.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">9.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Weighted average
    common shares used in computing earnings per share</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,938,077</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Earnings per
    share - diluted</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Income (loss) from
    continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.06</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1.26</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">9.27</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net income (loss)
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.06</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.35</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">1.26</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">9.27</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,938,077</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,997,076</td>
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="14" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>Three
    Months Ended 2017</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>March
    31,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>June
    30,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>September
    30,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>December
    31,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="width: 48%; vertical-align: top"><b>&#160;</b></td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Total operating
    revenues</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">31,822</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">31,587</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">31,807</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">31,005</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Total operating
    expenses</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">27,345</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">26,759</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">26,397</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">28,292</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Operating income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,477</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,828</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,410</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,713</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Other expense</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(10,829</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(15,676</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(9,348</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(11,853</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Loss before gain
    on sales, non-contolling interest, and taxes</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,352</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(10,848</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,938</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,140</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Gain on sale of
    income producing properties</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,938</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain (loss) on land
    sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">445</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(476</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,062</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3,853</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Income tax expense</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(180</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income
    from continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(5,907</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(11,324</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">9,884</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,529</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Net income (loss)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(5,907</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(11,324</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">9,884</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,529</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Less: net (income)
    loss attributable to non-controlling interest</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">193</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">435</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(522</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">339</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Preferred dividend
    requirement</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(275</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(275</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(275</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">)</td>
    <td style="border-bottom: black 1pt solid">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(280</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(5,989</td>
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    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(11,164</td>
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    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">9,087</td>
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    <td style="border-bottom: black 2.5pt double">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(1,470</td>
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<tr>
    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>PER SHARE DATA</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.39</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.72</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.09</td>
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<tr>
    <td style="vertical-align: top">Net (loss) income
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.39</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.72</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.09</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Weighted average
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Earnings per
    share - diluted</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">(Loss) income from
    continued operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.39</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.72</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(0.09</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Net (loss) income
    applicable to common shares</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.39</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.72</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">0.59</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(0.09</td>
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<tr>
    <td style="vertical-align: top">Weighted average
    common shares used in computing diluted earnings per share</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,514,360</td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6645358944">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>Schedule
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>REAL
ESTATE AND ACCUMULATED DEPRECIATION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December
31, 2019</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; text-align: right">217</td>
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    <td style="vertical-align: bottom; text-align: right">20,114</td>
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<tr>
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    <td style="vertical-align: bottom; text-align: right">19,575</td>
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    <td style="vertical-align: bottom; text-align: right">1,621</td>
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    <td style="vertical-align: bottom; text-align: right">20,107</td>
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    <td style="vertical-align: bottom; text-align: right">372</td>
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    <td style="vertical-align: bottom; text-align: right">20,479</td>
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    <td style="vertical-align: bottom; text-align: right">22,100</td>
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    <td style="vertical-align: bottom; text-align: right">4,273</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">40
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; text-align: right">672</td>
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    <td style="vertical-align: bottom; text-align: right">141</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,267</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">141</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,267</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,408</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">148</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1972</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">40
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<tr>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">11,212</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,715</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,385</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,715</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,385</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">18,100</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">545</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">2007</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">40
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">10,252</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,339</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">13,398</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,339</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">13,398</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">14,737</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,893</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2009</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">10/15</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">40
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">8,794</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,225</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">11,025</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">160</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,225</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">11,185</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,410</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">303</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1999</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">11/18</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">40
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">15,829</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,411</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">17,005</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,411</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">17,005</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">19,416</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">319</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">2012</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">11/15</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">40
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,012</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">18,115</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">25</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,012</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">18,140</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">20,152</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">491</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2005</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">12/18</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">40
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">9,183</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,010</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">9,086</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">144</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,502</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">17,496</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
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    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td></tr>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,040</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">301</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,040</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">301</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">5,341</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,302</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">576</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7,023</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">576</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7,023</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7,599</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">11/15</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,481</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">89</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,481</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">89</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,570</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">6/17</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,560</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,674</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,674</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,674</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">4/19</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,155</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,098</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">81</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,098</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">81</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,179</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">9/19</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr style="background-color: #cceeff">
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    <td><b>&#160;</b></td>
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    <td style="vertical-align: bottom; text-align: right"><b>9,017</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>$</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>10,195</b></td>
    <td><b>&#160;</b></td>
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    <td style="vertical-align: bottom; text-align: right">106</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">142</td>
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    <td style="vertical-align: bottom; text-align: right">764</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td><b>&#160;</b></td>
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    <td><b>&#160;</b></td>
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    <td><b>&#160;</b></td>
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    <td style="vertical-align: bottom; text-align: right"><b>148,323</b></td>
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    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
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    <td style="vertical-align: bottom; text-align: right"><b>229,424</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>$</b></td>
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    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    Gulfport, MS</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,612</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">46</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(38</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,612</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">8</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,620</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">10/06</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in">Gautier,
    Gautier, MS</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">202</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">202</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">202</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">7/98</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.125in">Lake
    Shore Villas, Humble, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">81</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">81</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">84</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">3/02</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in">Lubbock,
    Lubbock, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">234</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">234</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">234</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">1/04</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.125in">Ocean
    Estates, Gulfport, MS</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,418</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">390</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,418</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">390</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,808</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">10/07</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in">Union
    Pacific Railroad, Dallas, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">130</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">130</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">130</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">3/04</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.125in">Willowick,
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">137</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">137</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">137</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">1/95</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in">Windmill
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">13,861</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">55,668</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">13,913</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,430</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">49,238</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<tr>
    <td style="vertical-align: top; padding-left: 0.125in">T
    Palm Desert, Riverside, CA</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,800</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,800</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,800</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">9/19</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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<tr style="background-color: #cceeff">
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    Longhorn, Farmers Branch, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,169</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(760</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,169</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(760</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">409</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">6/04</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.125in">Minivest,
    Dallas, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">7</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">4/13</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    Croslin, Dallas, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">184</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(118</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">184</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(118</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">66</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">10/98</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.125in">Nicholson
    Mendoza, Dallas, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">80</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(51</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">80</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(51</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">29</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">10/98</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in">Mercer
    Crossing, Farmers Branch, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">10,966</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">10,966</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">10,966</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">1/08</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.125in">McKinney
    36, Collin County, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">945</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">635</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">161</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(19</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">635</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">142</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">777</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">1/98</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in">Travis
    Ranch, Kaufman County, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">80</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">80</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">80</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">8/08</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 0.125in">Dominion
    Tract, Farmers Branch, TX</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,440</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">111</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(135</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,440</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(24</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,416</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">3/99</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.125in"><b>Total
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    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>$</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>14,806</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>$</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>76,843</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>$</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>&#8212;</b></td>
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    <td style="vertical-align: bottom; text-align: left"><b>$</b></td>
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    <td style="vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>&#160;</b></td>
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<tr>
    <td style="vertical-align: top"><b>&#160;</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td>&#160;</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>&#160;</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: left"><b>&#160;</b></td>
    <td style="vertical-align: bottom; text-align: right"><b>&#160;</b></td>
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>REAL
ESTATE AND ACCUMULATED DEPRECIATION</b>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>As
of December 31, 2019</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
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<tr>
    <td style="width: 60%; vertical-align: top">Reconciliation
    of Real Estate</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Balance at January
    1,</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">459,142</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">1,165,662</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">1,066,603</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Additions</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 32px">Acquisitions,
    improvements and construction</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">97,554</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">576,232</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">129,483</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Deductions</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 32px">Sale
    of real estate</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(78,733</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,282,752</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(30,424</td>
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<tr>
    <td style="vertical-align: top">Balance at December
    31,</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">477,963</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">459,142</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">1,165,662</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Reconciliation of
    Accumulated Depreciation</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Balance at January
    1,</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">78,099</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">177,546</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">165,597</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Additions</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 32px">Depreciation</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">13,379</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">22,670</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Deductions</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 32px">Sale
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,305</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(122,117</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(12,468</td>
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<tr>
    <td style="vertical-align: top">Balance at December
    31,</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">90,173</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">78,099</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
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</table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_ScheduleIiiRealEstateAndAccumulatedDepreciationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Subsection 28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6796983408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfStockholdersEquityAbstract', window );"><strong>Statement of Stockholders' Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockDividendsPerShareDeclared', window );">Series A preferred stock dividend, per share</a></td>
<td class="nump">$ 1.00<span></span>
</td>
<td class="nump">$ 1.00<span></span>
</td>
<td class="nump">$ 1.00<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockDividendsPerShareDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of preferred stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockDividendsPerShareDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfStockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfStockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821645008">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="nump">$ 169,299<span></span>
</td>
<td class="nump">$ 140,327<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLosses', window );">Allowance for doubtful accounts</a></td>
<td class="nump">13,099<span></span>
</td>
<td class="nump">14,269<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenue', window );">Deferred revenue</a></td>
<td class="nump">24,762<span></span>
</td>
<td class="nump">33,904<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndOtherAccruedLiabilities', window );">Accounts payable and other liabilities</a></td>
<td class="nump">$ 24,768<span></span>
</td>
<td class="nump">$ 25,576<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Series A Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Series A Preferred stock, authorized (in shares)</a></td>
<td class="nump">15,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockLiquidationPreference', window );">Series A Preferred stock, liquidation preference (in dollars per share)</a></td>
<td class="nump">$ 10.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, authorized (in shares)</a></td>
<td class="nump">100,000,000<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, issued (in shares)</a></td>
<td class="nump">16,412,861<span></span>
</td>
<td class="nump">16,412,861<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, outstanding (in shares)</a></td>
<td class="nump">15,997,076<span></span>
</td>
<td class="nump">15,997,076<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury stock (in shares)</a></td>
<td class="nump">415,785<span></span>
</td>
<td class="nump">415,785<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_TranscontinentalRealtyInvestorsMember', window );">TCI [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, outstanding (in shares)</a></td>
<td class="nump">140,000<span></span>
</td>
<td class="nump">140,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury stock (in shares)</a></td>
<td class="nump">140,000<span></span>
</td>
<td class="nump">140,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember', window );">Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Series A Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="nump">$ 2.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Series A Preferred stock, authorized (in shares)</a></td>
<td class="nump">15,000,000<span></span>
</td>
<td class="nump">15,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Series A Preferred stock, issued (in shares)</a></td>
<td class="nump">1,800,614<span></span>
</td>
<td class="nump">1,800,614<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Series A Preferred stock, outstanding (in shares)</a></td>
<td class="nump">614<span></span>
</td>
<td class="nump">614<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockLiquidationPreference', window );">Series A Preferred stock, liquidation preference (in dollars per share)</a></td>
<td class="nump">$ 10.00<span></span>
</td>
<td class="nump">$ 10.00<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember', window );">Series A Preferred Stock [Member] | ARL and Subsidiaries [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Series A Preferred stock, issued (in shares)</a></td>
<td class="nump">1,800,000<span></span>
</td>
<td class="nump">1,800,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember', window );">Related Parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="nump">$ 105,524<span></span>
</td>
<td class="nump">$ 105,803<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLosses', window );">Allowance for doubtful accounts</a></td>
<td class="nump">13,099<span></span>
</td>
<td class="nump">14,269<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenue', window );">Deferred revenue</a></td>
<td class="nump">24,762<span></span>
</td>
<td class="nump">33,904<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndOtherAccruedLiabilities', window );">Accounts payable and other liabilities</a></td>
<td class="nump">$ 11,817<span></span>
</td>
<td class="nump">$ 9,984<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndOtherAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities incurred and payable to vendors for goods and services received, and accrued liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndOtherAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11B<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=118936363&amp;loc=SL6953423-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118955202&amp;loc=SL82895884-210446<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919249-210447<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7)(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919249-210447<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allowance for credit loss, of financing receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockLiquidationPreference">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The per share liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(d)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(d)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21484-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockLiquidationPreference</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29,30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_TranscontinentalRealtyInvestorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_TranscontinentalRealtyInvestorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_ConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_AmericanRealtyInvestorsIncAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_AmericanRealtyInvestorsIncAndSubsidiariesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R63.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6805064192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BONDS AND BONDS INTEREST PAYABLE (Details Narrative) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 27, 2020</div></th>
<th class="th"><div>Jul. 26, 2018</div></th>
<th class="th"><div>Jan. 25, 2018</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 23, 2019</div></th>
<th class="th"><div>Jul. 28, 2019</div></th>
<th class="th"><div>Jul. 19, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Feb. 15, 2018</div></th>
<th class="th"><div>Feb. 13, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized', window );">Foreign currency gain (loss) - debenture transactions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (15,100)<span></span>
</td>
<td class="nump">$ 12,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Bond issuance cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,342<span></span>
</td>
<td class="nump">$ 9,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentPrincipal', window );">Repayment of principal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid to bondholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember', window );">Bonds Series A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.17%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid to bondholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember', window );">Bonds Series A [Member] | Southern Properties Capital LTD [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 115,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember', window );">Bonds Series A [Member] | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid to bondholders</a></td>
<td class="nump">$ 17,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember', window );">Bonds Series A [Member] | Israel, New Shekels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid to bondholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember', window );">Bonds Series A [Member] | Israel, New Shekels | Southern Properties Capital LTD [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember', window );">Bonds Series A [Member] | Israel, New Shekels | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentPrincipal', window );">Repayment of principal</a></td>
<td class="nump">$ 60,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember1Member', window );">Nonconvertible Series B Bonds [Member] | Southern Properties Capital LTD [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 39,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Bond issuance cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember1Member', window );">Nonconvertible Series B Bonds [Member] | Israel, New Shekels | Southern Properties Capital LTD [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 137,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures1Member', window );">Nonconvertible Series B Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid to bondholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures1Member', window );">Nonconvertible Series B Bonds [Member] | Israel, New Shekels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid to bondholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_SeriesBBondsMember', window );">Series B Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Bond issuance cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_SeriesBBondsMember', window );">Series B Bonds [Member] | Israel, New Shekels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 72,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures11Member', window );">Nonconvertible Series C Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 221,000<span></span>
</td>
<td class="nump">$ 78,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Bond issuance cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures11Member', window );">Nonconvertible Series C Bonds [Member] | Israel, New Shekels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debentures offering amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 664,000<span></span>
</td>
<td class="nump">$ 275,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109500613&amp;loc=SL6036836-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28551-108399<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentPeriodicPaymentPrincipal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments applied to principal.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentPeriodicPaymentPrincipal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30700-110894<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossUnrealized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, including, but not limited to, capitalized interest and payment to settle zero-coupon bond attributable to accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount; classified as operating and investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=srt_SubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=srt_SubsidiariesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_ILS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_ILS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebenturesMember1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_SeriesBBondsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_SeriesBBondsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures11Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NonconvertibleDebentures11Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6668129440">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>DEFERRED INCOME (Details Narrative)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DeferredIncomeDetailsNarrativeAbstract', window );"><strong>Deferred Income Details Narrative Abstract</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredGainOnSaleOfProperty', window );">Deferred gain</a></td>
<td class="nump">$ 24,800<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DeferredIncomeDetailsNarrativeAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DeferredIncomeDetailsNarrativeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredGainOnSaleOfProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain on the sale of property that does not qualify for gain recognition as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredGainOnSaleOfProperty</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821895456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENT IN VAA (Details Narrative)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Nov. 19, 2018 </div>
<div>USD ($) </div>
<div>Number</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=arl_Subsidiaries23Member', window );">Transcontinental Realty Investors, Inc. [Member] | Apartment Buildings [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NumberOfPortfolioContributed', window );">Number of portfolio contributed | Number</a></td>
<td class="nump">49<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=arl_Subsidiaries23Member', window );">Transcontinental Realty Investors, Inc. [Member] | Development Projects [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_NumberOfPortfolioContributed', window );">Number of portfolio contributed | Number</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Cash consideration</a></td>
<td class="nump">$ 236,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses', window );">Recognized gain</a></td>
<td class="nump">$ 154,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember', window );">Class B [Member] | Daniel J. Moos ARL's President and Chief Executive Officer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_InterestHeld', window );">Interest held</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_CashPaymentUponClosing', window );">Cash payment upon closing</a></td>
<td class="nump">$ 1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRelatedPartyDebt', window );">Cash distribution from VAA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member] | Class A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_SummersetIntermediateHoldings2LLCMember', window );">Summerset Intermediate Holdings 2 LLC [Member] | Class A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest</a></td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_CashPaymentUponClosing">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash payment received upn closing of joint venture formation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_CashPaymentUponClosing</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_InterestHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents interets held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_InterestHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_NumberOfPortfolioContributed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of portolio contributed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_NumberOfPortfolioContributed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6578-128477<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net gains or losses recognized for each transaction with the acquiree that was recognized separately from the acquisition of assets and assumptions of liabilities in the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsNetGainsAndLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRelatedPartyDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=arl_Subsidiaries23Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=arl_Subsidiaries23Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_ApartmentBuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_ApartmentBuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_DevelopmentProjectsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_DevelopmentProjectsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=srt_ChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=srt_ChiefExecutiveOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_SummersetIntermediateHoldings2LLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_SummersetIntermediateHoldings2LLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821851264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Nov. 19, 2018 </div>
<div>USD ($) </div>
<div>Number</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>a </div>
<div>ft&#178; </div>
<div>Number</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>Number</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentsOther', window );">Real estate, at cost | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 469,997<span></span>
</td>
<td class="nump">$ 455,993<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfLand', window );">Acres of land | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,951<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Percentage of ownership</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of income-producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Cash consideration | $</a></td>
<td class="nump">$ 236,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Number of apartment units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,888<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_CommercialPropertyMember', window );">Commercial lProperties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of income-producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetRentableArea', window );">Rentable square feet | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_ApartmentBuildingMember', window );">Apartment Buildings [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of income-producing properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfUnitsInRealEstateProperty', window );">Number of apartment units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,657<span></span>
</td>
<td class="nump">1,489<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentsOther', window );">Real estate, at cost | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 478,000<span></span>
</td>
<td class="nump">$ 464,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfRealEstateProperties', window );">Number of income-producing properties</a></td>
<td class="nump">49<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Cash consideration | $</a></td>
<td class="nump">$ 236,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ProjectsInDevelopment', window );">Projects in development</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Buildings And Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Useful life of fixed assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Furniture, Fixtures And Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Useful life of fixed assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Buildings And Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Useful life of fixed assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Furniture, Fixtures And Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Useful life of fixed assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_TranscontinentalRealtyInvestorsMember', window );">TCI [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">78.38%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_IncomeOpportunityRealtyInvestorsIncMember', window );">Income Opportunity Realty Investors, Inc. [Member] | TCI [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81.23%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member] | Class A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member] | Class B [Member] | Daniel J. Moos ARL's President and Chief Executive Officer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ProfitParticipationRightsPercentage', window );">Profit participation rights percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member] | Abode JVP, LLC [Member] | Class A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_VotingInterestInJointVenture', window );">Voting interest in joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ProfitParticipationRightsPercentage', window );">Profit participation rights percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member] | Summerset Intermediate Holdings 2 LLC [Member] | Class A [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_VotingInterestInJointVenture', window );">Voting interest in joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ProfitParticipationRightsPercentage', window );">Profit participation rights percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember', window );">Related Parties [Member] | ARL [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_ProfitParticipationRightsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of profit participation rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_ProfitParticipationRightsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_ProjectsInDevelopment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of projects in development.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_ProjectsInDevelopment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_VotingInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Voting interest in joint venture.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_VotingInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of land held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6578-128477<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetRentableArea">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net rentable area for properties owned.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetRentableArea</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfRealEstateProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of real estate properties owned as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfRealEstateProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfUnitsInRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of units in a real estate property owned as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfUnitsInRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate owned for income production and capital accretion potential, not otherwise specified in the existing taxonomy. Such real estate excludes that which is occupied or used in the business, for entertainment purposes, or held in inventory for specific purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_CommercialPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=arl_CommercialPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_ApartmentBuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_ApartmentBuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_VictoryAbodeApartmentsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_VictoryAbodeApartmentsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_TranscontinentalRealtyInvestorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_TranscontinentalRealtyInvestorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_IncomeOpportunityRealtyInvestorsIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_IncomeOpportunityRealtyInvestorsIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_TranscontinentalRealtyInvestorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_TranscontinentalRealtyInvestorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=arl_VictoryAbodeApartmentsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=srt_ChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=srt_ChiefExecutiveOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_AbodeJypLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_AbodeJypLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=arl_SummersetIntermediateHoldings2LLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=arl_SummersetIntermediateHoldings2LLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810757568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">For financial reporting purposes, income before income taxes were:&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">(21,743</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">)</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 1%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">$</font>
                </p>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="color: black">(8,696</font>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>

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    <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td colspan="10" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top">
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black"><b>Years Ended December 31,</b></font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt; padding-right: 0pt; padding-top: 0pt; vertical-align: top; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: top">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
                </p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">170</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
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                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="font: 10pt Times New Roman, Times, Serif; color: black">$</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
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</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of reconciliation effective tax rate on income from continuing operations and the statutory rate</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">The reconciliation between the Company&#x2019;s effective tax rate on income from continuing operations and the statutory rate is as follows:</p>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: center; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">2019</font>
            </td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">2018</font>
            </td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">2017</font>
            </td>
            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: center; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center">
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
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                <font style="font: 10pt Times New Roman, Times, Serif">Income tax (benefit) expense at federal statutory rate</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">31,739</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(3,044</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
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                <font style="font: 10pt Times New Roman, Times, Serif">State and local income taxes net of federal tax (benefit) expense</font>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#x2014;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">1,210</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">180</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Permanent tax differences</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;(2,499</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(224</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#x2014;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Temporary tax differences</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Installment note on land sale</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;&#x2014;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(2,875</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(1,918</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Allowance for losses on note receivables</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;(246</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(712</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(2,372</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Deferred gains</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;(1,920</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(7,041</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">(10,758</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">)</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Basis differences on fixed assets</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#x2014;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">22,110</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">9,284</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff; vertical-align: bottom">
            <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; text-indent: -0.125in">
                <font style="font: 10pt Times New Roman, Times, Serif">Other basis/timing differences</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;3,172</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
            </td>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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            <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">$</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">180</font>
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            <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">
                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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                <font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>
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<tr class="ro">
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><b>Components of the Net Deferred Tax Asset or Liability</b></p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%; text-align: center">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: center">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 72%; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 10%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">$</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
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            </td>
            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">5,200</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="color: black">3,999</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#x2014;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; vertical-align: top">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">18,371</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">(21,180</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">$</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">$</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">(6,663</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">)&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">)</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt">
                    <font style="color: black">Total Deferred Tax Liability</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">$</p>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">(6,663</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">)&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">$</font>
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            <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">)</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
            </td>
            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="color: black">3,332</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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        </tr>
        <tr style="font: 10pt Times New Roman, Times, Serif">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">(6,663</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">)&#160;</p>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 2%">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">&#160;</p>
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            <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">
                    <font style="color: black">(3,332</font>
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">
                <p style="font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt; margin-top: 0pt; text-align: left">
                    <font style="color: black">)</font>
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        <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #cceeff">
            <td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 2.5pt; vertical-align: top">
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            <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821585568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUBSEQUENT EVENTS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">SUBSEQUENT EVENTS</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 54pt; text-indent: -54pt"><b>NOTE 19.</b>&#160;&#160;&#160;&#160; <b><i><b>SUBSEQUENT EVENTS</b></i>
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<p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 2, 2020, S&#38;P Global
Ratings announced the increase of the Company's issuer rating to 'ilA-' from 'ilBBB+' for Bonds (Series A and B). In
addition, Series C bond rating (secured by one of SPC&#8217;s commercial properties) increase to 'ilA' from 'ilA-' rating due
to the expectation of continued improvement in coverage ratios and the expansion of Company&#8217;s portfolio. Our business
may be impacted as a result of the pandemic impact the coronavirus (&#x201C;COVID 19&#x201D;) may have in the U.S. and global
economy.</p>

<p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt/110% Times New Roman, Times, Serif; margin: 0; text-align: justify">During 2020, a strain of coronavirus (&#x201C;COVID &#x2013; 19&#x201D;) was reported worldwide, resulting in
decreased economic activity and concerns about the pandemic, which would adversely affect the broader global economy. The
Company is taking all necessary steps to keep our business premises, tenants, vendors and employees in a safe environment and
are constantly monitoring the impact of COVID &#x2013; 19.&#160; At this point, the extent to which COVID &#x2013; 19 may
impact the global economy and our business is uncertain, but pandemics or other significant public health events could have a
material adverse effect on our business and results of operations</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The date to which events occurring after December 31, 2019, the date of the most recent balance sheet, have been evaluated for possible adjustments to the financial statements or disclosure is March 30, 2020, which is the date of which the financial statements were available to be issued. There are no subsequent events that would require an adjustment to the financial statements.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -URI http://asc.fasb.org/topic&amp;trid=2122774<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6797136160">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>DIVIDENDS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text">&#160;<span></span>
</td>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ARL&#8217;s
Board of Directors established a policy that dividend declarations on common stock would be determined on an annual basis following
the end of each year. In accordance with that policy, no dividends on ARL&#8217;s common stock were declared for fiscal years
ended 2019, 2018, or 2017. Future distributions to common stockholders will be determined by the Board of Directors in light of
conditions then existing, including the Company&#8217;s financial condition and requirements, future prospects, restrictions in
financing agreements, business conditions and other factors deemed relevant by the Board. On January 12, 2018 Realty Advisors
converted 200,000 preferred Series A shares plus accrued dividends into 482,716 shares of common stock.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure on interest recognition on notes receivable and related activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810652880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>OPERATING SEGMENTS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>Segment Reporting [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingDisclosureTextBlock', window );">OPERATING SEGMENTS</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b>NOTE
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 54pt; text-indent: -54pt"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our
segments are based on management&#8217;s method of internal reporting which classifies its operations by property type. The segments
are commercial, apartments, land and other. Significant differences among the accounting policies of the operating segments as
compared to the Consolidated Financial Statements principally involve the calculation and allocation of administrative and other
expenses. Management evaluates the performance of each of the operating segments and allocates resources to them based on their
operating income and cash flow.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Items
of income that are not reflected in the segments are interest, other income, equity in partnerships and gains on sale of real
estate. Expenses that are not reflected in the segments are provision for losses, advisory, net income and incentive fees, general
and administrative, non-controlling interests and net loss from discontinued operations before gains on sale of real estate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
segment labeled as &#8220;Other&#8221; consists of revenue and operating expenses related to the notes receivable and corporate
debt.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Presented
below is the Company&#8217;s reportable segments&#8217; operating income including segment assets and expenditures for the years
2019, 2018 and 2017 (dollars in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left"><b>For
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    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>Commercial
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><b>Other</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
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    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 35%; vertical-align: top">Rental
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    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">32,707</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">15,257</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">6</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">47,970</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Property operating
    expenses</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(15,805</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(8,375</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(735</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(779</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(25,694</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Depreciation</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(10,229</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(3,150</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(13,379</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Mortgage and loan
    interest</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,018</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(4,069</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,301</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(27,472</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(39,860</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Loss on debt extinguishment</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(5,219</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(5,219</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">Interest income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">25,955</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">25,955</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Loss on the sale
    of income producing property</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(80</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(80</td>
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<tr>
    <td style="vertical-align: top">Gain on land sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">15,272</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">15,272</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Segment operating
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(5,564</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(417</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">13,236</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(2,290</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">4,965</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Capital expenditures</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">5,257</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">25,001</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">3,489</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">33,747</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Real estate assets</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">229,424</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">178,536</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">70,003</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">477,963</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">3,096</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">30,012</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">33,108</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(14,740</td>
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    <td>&#160;</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
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<tr style="background-color: #cceeff">
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    <td style="width: 1%">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">33,113</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">87,832</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">1</td>
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    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">10</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">120,956</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(16,252</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(42,134</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(645</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(556</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(59,587</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Depreciation and
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,530</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(13,140</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td style="vertical-align: bottom; text-align: right">(22,670</td>
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<tr>
    <td style="vertical-align: top">Mortgage and loan
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,663</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(20,671</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(636</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(37,093</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(66,063</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Interest income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">21,645</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">21,645</td>
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<tr>
    <td style="vertical-align: top">Gain on land sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">17,404</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">17,404</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Segment operating
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(332</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">11,887</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">16,124</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(15,994</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">11,685</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Capital expenditures</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">8,246</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">16,953</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">25,199</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Assets</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">153,014</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">143,500</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">84,529</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">381,043</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Sales price</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">2,313</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">8,512</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">43,311</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">54,136</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(2,313</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(8,512</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(25,907</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(36,732</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">17,404</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">&#8212;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
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<tr style="background-color: #cceeff">
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    <td style="width: 10%; vertical-align: bottom; text-align: right">92,807</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">111</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">17</td>
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    <td style="width: 10%; vertical-align: bottom; text-align: right">126,221</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(18,549</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(43,677</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(878</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(987</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(64,091</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Depreciation and
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(9,358</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(16,354</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">(25,679</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,527</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(22,347</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(1,945</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(34,352</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(66,171</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Interest income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">18,941</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">18,941</td>
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<tr>
    <td style="vertical-align: top">Gain on sale of
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">2,391</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,547</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">16,698</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain on land sales</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">4,884</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">4,884</td>
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<tr>
    <td style="vertical-align: top">Segment operating
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">243</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">23,189</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">3,719</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(16,348</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">10,803</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Capital expenditures</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">(5,817</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">1,402</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">609</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">(3,806</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Assets</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">137,157</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">727,508</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">123,452</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">988,117</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top"><b>Property Sales</b></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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<tr>
    <td style="vertical-align: top">Sales price</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">5,050</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">29,969</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: right">35,019</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(2,659</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(23,538</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(26,197</td>
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<tr>
    <td style="vertical-align: top">Recognized prior
    deferred gain</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">12,760</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">12,760</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Gain on sale</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">2,391</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">12,760</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">6,431</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">21,582</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The
table below reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in">&#160;</td>
    <td>&#160;</td>
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    the Years Ended December 31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left; padding-left: 0.25in; text-indent: -0.25in"><b>&#160;</b></td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2017</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 61%; vertical-align: top; padding-left: 0.25in; text-indent: -0.25in">Segment
    operating income</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">4,965</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">11,685</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">10,803</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    non-segment items of income (expense)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">General
    and administrative</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(13,336</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(12,708</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(7,691</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Net
    income fee to related party</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(357</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(631</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(250</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Advisory
    fee to related party</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,612</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(11,475</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(11,082</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Other
    income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">11,018</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">28,993</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,082</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Gain
    on disposition of 50% interest in VAA</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">154,126</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Foreign
    currency translation (loss) gain</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(15,108</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,399</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(4,536</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Loss
    from joint venture</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(2,774</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">44</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">Loss
    on sale of investments</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(331</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; text-align: left">Earnings
    from unconsolidated investees</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">461</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,469</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">309</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-bottom: 1pt; text-align: left">Income
    tax expense</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,210</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(180</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 0.25in; text-indent: -0.25in">Net
    (loss) income from continuing operations</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(21,743</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">182,692</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">(8,876</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
table below reflects the reconciliation of the segment information to the corresponding amounts in the Consolidated Balance Sheets
(dollars in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="10" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>As
    of December 31,</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><b>2017</b></td>
    <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 61%; vertical-align: top">Segment
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    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">387,790</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">381,043</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">988,117</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Investments in unconsolidated
    investees</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">67,655</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">76,001</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">6,396</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Notes and interest
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">156,200</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">126,058</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">112,095</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">Other assets</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">218,996</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">243,047</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">190,112</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Total assets</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">830,641</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">826,149</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2.5pt double; text-align: right">1,296,720</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -URI http://asc.fasb.org/topic&amp;trid=2134510<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6818481408">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Comprehensive Income (Loss) [Member]</div></th>
<th class="th"><div>Preferred Stock [Member]</div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Treasury Stock [Member]</div></th>
<th class="th"><div>Paid-in Capital [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>Non-controlling Interest [Member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at beginning at Dec. 31, 2016</a></td>
<td class="num">$ (58,737)<span></span>
</td>
<td class="nump">$ 2,205<span></span>
</td>
<td class="nump">$ 159<span></span>
</td>
<td class="num">$ (6,395)<span></span>
</td>
<td class="nump">$ 111,510<span></span>
</td>
<td class="nump">$ 14,398<span></span>
</td>
<td class="nump">$ 54,254<span></span>
</td>
<td class="nump">$ 176,131<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance at beginning (in shares) at Dec. 31, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,930,145<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
<td class="num">(8,876)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,431)<span></span>
</td>
<td class="num">(445)<span></span>
</td>
<td class="num">(8,876)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Assumption of non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(267)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(267)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPreferredStockCash', window );">Series A preferred stock cash dividend ($1.00 per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,105)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,105)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at end at Dec. 31, 2017</a></td>
<td class="num">(67,613)<span></span>
</td>
<td class="nump">2,205<span></span>
</td>
<td class="nump">$ 159<span></span>
</td>
<td class="num">(6,395)<span></span>
</td>
<td class="nump">110,138<span></span>
</td>
<td class="nump">5,967<span></span>
</td>
<td class="nump">53,809<span></span>
</td>
<td class="nump">165,883<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance at end (in shares) at Dec. 31, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,930,145<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
<td class="nump">173,699<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">173,699<span></span>
</td>
<td class="nump">8,993<span></span>
</td>
<td class="nump">182,692<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities', window );">Conversion of Series A preferred stock into common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(400)<span></span>
</td>
<td class="nump">$ 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(395)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Conversion of Series A preferred stock into common stock (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">482,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockRedemptionPremium', window );">Redemption of Series D preferred stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Dividends', window );">Series D preferred dividend</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,152)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,152)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary', window );">Acquisition of Series A preferred stock by consolidated subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,800)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,200)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPreferredStockCash', window );">Series A preferred stock cash dividend ($1.00 per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(901)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(901)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at end at Dec. 31, 2018</a></td>
<td class="nump">106,086<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">$ 164<span></span>
</td>
<td class="num">(6,395)<span></span>
</td>
<td class="nump">84,885<span></span>
</td>
<td class="nump">179,666<span></span>
</td>
<td class="nump">62,802<span></span>
</td>
<td class="nump">321,127<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance at end (in shares) at Dec. 31, 2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,412,861<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
<td class="num">(15,958)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,958)<span></span>
</td>
<td class="num">(5,785)<span></span>
</td>
<td class="num">(21,743)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AdjustmentToAdditionalPaidInCapitalDistributionToEquityPartner', window );">Distribution to equity partner</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,867)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,867)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPreferredStockCash', window );">Series A preferred stock cash dividend ($1.00 per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at end at Dec. 31, 2019</a></td>
<td class="nump">$ 90,128<span></span>
</td>
<td class="nump">$ 5<span></span>
</td>
<td class="nump">$ 164<span></span>
</td>
<td class="num">$ (6,395)<span></span>
</td>
<td class="nump">$ 82,017<span></span>
</td>
<td class="nump">$ 163,708<span></span>
</td>
<td class="nump">$ 57,017<span></span>
</td>
<td class="nump">$ 296,516<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance at end (in shares) at Dec. 31, 2019</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,412,861<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition of Series A preferred stock by consolidated subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AcquisitionOfPreferredStockByConsolidatedSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AdjustmentToAdditionalPaidInCapitalDistributionToEquityPartner">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount represents value of distribution to equity partner.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AdjustmentToAdditionalPaidInCapitalDistributionToEquityPartner</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Dividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 405<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Dividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPreferredStockCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 405<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsPreferredStockCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInStockholdersEquityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockRedemptionPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The excess of (1) fair value of the consideration transferred to the holders of the preferred stock over (2) the carrying amount of the preferred stock in the registrant's balance sheet, during the accounting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=27010884&amp;loc=d3e42851-122695<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockRedemptionPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118930883&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591551-111686<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3000-108585<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4591552-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued which are neither cancelled nor held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross value of stock issued during the period upon the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568740-111683<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4590271-111686<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821386656">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentsOther', window );">Real estate, at cost</a></td>
<td class="nump">$ 469,997<span></span>
</td>
<td class="nump">$ 455,993<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateSubjectToSalesContractsAtCost', window );">Real estate subject to sales contracts at cost</a></td>
<td class="nump">7,966<span></span>
</td>
<td class="nump">3,149<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation', window );">Less accumulated depreciation</a></td>
<td class="num">(90,173)<span></span>
</td>
<td class="num">(78,099)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Total real estate</a></td>
<td class="nump">387,790<span></span>
</td>
<td class="nump">381,043<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable (including $105,524 in 2019 and $105,803 in 2018 from related parties)</a></td>
<td class="nump">169,299<span></span>
</td>
<td class="nump">140,327<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLosses', window );">Less allowance for estimated losses (including $13,099 and $14,269 in 2019 and 2018 from related parties)</a></td>
<td class="num">(13,099)<span></span>
</td>
<td class="num">(14,269)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Total notes and interest receivable</a></td>
<td class="nump">156,200<span></span>
</td>
<td class="nump">126,058<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">51,228<span></span>
</td>
<td class="nump">36,428<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="nump">32,083<span></span>
</td>
<td class="nump">70,187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentsJointVentures', window );">Investment in VAA</a></td>
<td class="nump">59,148<span></span>
</td>
<td class="nump">68,399<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures', window );">Investment in other unconsolidated investees</a></td>
<td class="nump">8,507<span></span>
</td>
<td class="nump">7,602<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Receivable from related party</a></td>
<td class="nump">85,996<span></span>
</td>
<td class="nump">70,377<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">49,689<span></span>
</td>
<td class="nump">66,055<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">830,641<span></span>
</td>
<td class="nump">826,149<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayable', window );">Notes and interest payable</a></td>
<td class="nump">254,873<span></span>
</td>
<td class="nump">286,968<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondAndBondInterestPayable', window );">Bond and interest payable</a></td>
<td class="nump">229,722<span></span>
</td>
<td class="nump">158,574<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenue', window );">Deferred revenue (including $24,762 in 2019 and $33,904 in 2018 to related parties)</a></td>
<td class="nump">24,762<span></span>
</td>
<td class="nump">33,904<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndOtherAccruedLiabilities', window );">Accounts payable and other liabilities (including $11,817 in 2019 and $9,984 in 2018 to related parties)</a></td>
<td class="nump">24,768<span></span>
</td>
<td class="nump">25,576<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">534,125<span></span>
</td>
<td class="nump">505,022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Shareholders' equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued 614 and outstanding 1,800,614 in 2019 and 2018 (liquidation preference $10 per share), including 1,800,000 shares held by ARL and its subsidiaries in 2019 and 2018.</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.01 par value, 100,000,000 shares authorized; 16,412,861 shares issued and 15,997,076 outstanding as of 2019 and 2018 , including 140,000 shares held by TCI (consolidated) in 2019 and 2018.</a></td>
<td class="nump">164<span></span>
</td>
<td class="nump">164<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock at cost; 415,785 shares in 2019 and 2018, and 140,000 shares held by TCI (consolidated) as of 2019 and 2018.</a></td>
<td class="num">(6,395)<span></span>
</td>
<td class="num">(6,395)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Paid-in capital</a></td>
<td class="nump">82,017<span></span>
</td>
<td class="nump">84,885<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">163,708<span></span>
</td>
<td class="nump">179,666<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total American Realty Investors, Inc. shareholders' equity</a></td>
<td class="nump">239,499<span></span>
</td>
<td class="nump">258,325<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Non-controlling interest</a></td>
<td class="nump">57,017<span></span>
</td>
<td class="nump">62,802<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total shareholders' equity</a></td>
<td class="nump">296,516<span></span>
</td>
<td class="nump">321,127<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and shareholders' equity</a></td>
<td class="nump">$ 830,641<span></span>
</td>
<td class="nump">$ 826,149<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_BondAndBondInterestPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Bond and bond interest payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_BondAndBondInterestPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateSubjectToSalesContractsAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of real estate subject to sales contracts at cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateSubjectToSalesContractsAtCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndOtherAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities incurred and payable to vendors for goods and services received, and accrued liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndOtherAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11B<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=118936363&amp;loc=SL6953423-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118955202&amp;loc=SL82895884-210446<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919249-210447<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7)(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919249-210447<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in equity method investee and investment in and advance to affiliate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allowance for credit loss, of financing receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118952595&amp;loc=d3e4428-111522<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of depreciation for real estate property held for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentsJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The book value of investments in real estate joint ventures including direct and indirect investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentsJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate owned for income production and capital accretion potential, not otherwise specified in the existing taxonomy. Such real estate excludes that which is occupied or used in the business, for entertainment purposes, or held in inventory for specific purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3044-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalents</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568740-111683<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=116874947&amp;loc=SL4590271-111686<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29,30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804899952">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>BONDS AND BONDS INTEREST PAYABLE (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByMaturityAbstract', window );"><strong>Year ended December 31,</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2021</a></td>
<td class="nump">$ 55,393<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2022</a></td>
<td class="nump">13,437<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2023</a></td>
<td class="nump">36,770<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2024</a></td>
<td class="nump">1,995<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive', window );">Thereafter</a></td>
<td class="nump">119,537<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_BondsPayableMember', window );">Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByMaturityAbstract', window );"><strong>Year ended December 31,</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">2020</a></td>
<td class="nump">23,148<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2021</a></td>
<td class="nump">35,301<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2022</a></td>
<td class="nump">35,301<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2023</a></td>
<td class="nump">114,873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2024</a></td>
<td class="nump">12,153<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive', window );">Thereafter</a></td>
<td class="nump">12,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_BondsPayable', window );">Total</a></td>
<td class="nump">$ 232,989<span></span>
</td>
<td class="nump">$ 162,716<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_BondsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents bonds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_BondsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtByMaturityAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the remainder of the fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6820944528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND FEES (Details Narrative)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>USD ($) </div>
<div>a</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal', window );">Proceeds from notes receivables</a></td>
<td class="nump">$ 30,245<span></span>
</td>
<td class="nump">$ 8,541<span></span>
</td>
<td class="nump">$ 32,058<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Notes payable</a></td>
<td class="nump">$ 261,436<span></span>
</td>
<td class="nump">$ 295,535<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Statutory tax rate</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfLand', window );">Area of land | a</a></td>
<td class="nump">1,951<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember', window );">Pillar Income Asset Management, Inc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DueFromRelatedPropertyRentalRevenue', window );">Rent received</a></td>
<td class="nump">$ 1,300<span></span>
</td>
<td class="nump">$ 1,200<span></span>
</td>
<td class="nump">$ 800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ManagementFee', window );">Management fee</a></td>
<td class="nump">2,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember', window );">Related Party [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeRelatedParty', window );">Interest income</a></td>
<td class="nump">$ 11,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_SouthernPropertiesCapitalLtdMember', window );">Southern Properties Capital Ltd. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AnnualPaymentPercentage', window );">Annual pament percentage</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables4Member', window );">Mezzanine Financing [Member] | Related Party [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Notes payable</a></td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncMember', window );">Unified Housing Foundation Inc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestReceivable', window );">Interest receivable</a></td>
<td class="nump">7,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Total notes receivable</a></td>
<td class="nump">96,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_InterestIncomeRecognizedRelatedParty', window );">Recognized interest income</a></td>
<td class="nump">11,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_InterestIncomeOriginatedRelatedParty', window );">Originated interest income</a></td>
<td class="nump">21,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeRelatedParty', window );">Interest income</a></td>
<td class="nump">10,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_PrincipalRepaymentsRelatedPartyDebt', window );">Principal repayments</a></td>
<td class="nump">$ 18,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AnnualPaymentPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Annual payment percentage of value of investment properties for a related party transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AnnualPaymentPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DueFromRelatedPropertyRentalRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a due from related property rental revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DueFromRelatedPropertyRentalRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_InterestIncomeOriginatedRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a interest income originated related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_InterestIncomeOriginatedRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_InterestIncomeRecognizedRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a interest income recognized related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_InterestIncomeRecognizedRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_ManagementFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Management fee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_ManagementFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_PrincipalRepaymentsRelatedPartyDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Principal repayments related party debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_PrincipalRepaymentsRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate, from collection of principal.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Footnote 6<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Footnote 6))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateCollectionsOfPrincipal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of land held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestIncomeRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest income earned from interest-bearing assets owed to the entity by related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column G))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MortgageLoansOnRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_SouthernPropertiesCapitalLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=arl_SouthernPropertiesCapitalLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>88
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6823002448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENT IN VAA (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="12">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Sep. 30, 2019</div></th>
<th class="th"><div>Jun. 30, 2019</div></th>
<th class="th"><div>Mar. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract', window );"><strong>Balance Sheet</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Net real estate assets</a></td>
<td class="nump">$ 381,043<span></span>
</td>
<td class="nump">$ 387,790<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 387,790<span></span>
</td>
<td class="nump">$ 381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">66,055<span></span>
</td>
<td class="nump">49,689<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,689<span></span>
</td>
<td class="nump">66,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total equity</a></td>
<td class="num">(258,325)<span></span>
</td>
<td class="num">(239,499)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(258,325)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(239,499)<span></span>
</td>
<td class="num">(258,325)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ResultsOfOperationsAbstract', window );"><strong>Results of Operations</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,258<span></span>
</td>
<td class="nump">$ 11,943<span></span>
</td>
<td class="nump">$ 11,840<span></span>
</td>
<td class="nump">$ 11,929<span></span>
</td>
<td class="nump">24,857<span></span>
</td>
<td class="nump">$ 33,409<span></span>
</td>
<td class="nump">$ 31,607<span></span>
</td>
<td class="nump">$ 31,083<span></span>
</td>
<td class="nump">$ 31,005<span></span>
</td>
<td class="nump">$ 31,807<span></span>
</td>
<td class="nump">$ 31,587<span></span>
</td>
<td class="nump">$ 31,822<span></span>
</td>
<td class="nump">47,970<span></span>
</td>
<td class="nump">120,956<span></span>
</td>
<td class="nump">$ 126,221<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total property, operating, and maintenance expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,688)<span></span>
</td>
<td class="num">$ (13,809)<span></span>
</td>
<td class="num">$ (16,217)<span></span>
</td>
<td class="num">$ (13,664)<span></span>
</td>
<td class="num">(24,717)<span></span>
</td>
<td class="num">$ (28,199)<span></span>
</td>
<td class="num">$ (27,990)<span></span>
</td>
<td class="num">$ (26,165)<span></span>
</td>
<td class="num">$ (28,292)<span></span>
</td>
<td class="num">$ (26,397)<span></span>
</td>
<td class="num">$ (26,759)<span></span>
</td>
<td class="num">$ (27,345)<span></span>
</td>
<td class="num">(59,378)<span></span>
</td>
<td class="num">(107,071)<span></span>
</td>
<td class="num">(108,793)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and Amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13,379)<span></span>
</td>
<td class="num">(22,670)<span></span>
</td>
<td class="num">(25,679)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Net loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">461<span></span>
</td>
<td class="nump">1,469<span></span>
</td>
<td class="nump">$ 309<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=arl_VictoryAbodeApartmentsLLCMember', window );">Victory Abode Apartments, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract', window );"><strong>Balance Sheet</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Net real estate assets</a></td>
<td class="nump">1,257,557<span></span>
</td>
<td class="nump">1,242,957<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,257,557<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,242,957<span></span>
</td>
<td class="nump">1,257,557<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">67,020<span></span>
</td>
<td class="nump">62,222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">62,222<span></span>
</td>
<td class="nump">67,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtLongtermAndShorttermCombinedAmount', window );">Debt, net</a></td>
<td class="num">(791,225)<span></span>
</td>
<td class="num">(832,779)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(791,225)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(832,779)<span></span>
</td>
<td class="num">(791,225)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilities', window );">Other liabilities</a></td>
<td class="num">(280,288)<span></span>
</td>
<td class="num">(271,291)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(280,288)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(271,291)<span></span>
</td>
<td class="num">(280,288)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total equity</a></td>
<td class="num">(253,064)<span></span>
</td>
<td class="num">$ (201,109)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (253,064)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(201,109)<span></span>
</td>
<td class="num">$ (253,064)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ResultsOfOperationsAbstract', window );"><strong>Results of Operations</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="nump">12,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115,377<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total property, operating, and maintenance expenses</a></td>
<td class="num">(4,507)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(56,967)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="num">(5,818)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(61,487)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and Amortization</a></td>
<td class="num">(6,987)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(43,942)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_EquityMethodInvestmentTotalOtherExpense', window );">Total other expense</a></td>
<td class="num">(5,297)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,377)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Net loss</a></td>
<td class="num">(9,722)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(50,396)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_AdjustmentsToReconcileToEarningsFromVAAAbstract', window );"><strong>Adjustments to reconcile to income (loss) from VAA</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_EquityMethodInterestExpenseOnMezzanineLoan', window );">Interest expense on mezzanine loan</a></td>
<td class="nump">2,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_EquitymethodLeaseIntangiblesAmortizationExpense', window );">In-place lease intangibles amortization expense</a></td>
<td class="num">(3,983)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(14,703)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_EquityMethodDepreciationBasisDifferences', window );">Depreciation basis differences</a></td>
<td class="nump">3,012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_EquityMethodAdjustedNetIncome', window );">Net loss</a></td>
<td class="nump">$ 88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (5,547)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Percentage ownership in VAA</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_EarningsFromJointVenture', window );">Loss from VAA</a></td>
<td class="nump">$ 44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (2,774)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_AdjustmentsToReconcileToEarningsFromVAAAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_AdjustmentsToReconcileToEarningsFromVAAAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_EarningsFromJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee the joint venture.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_EarningsFromJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_EquityMethodAdjustedNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjusted net income of the equity method investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_EquityMethodAdjustedNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_EquityMethodDepreciationBasisDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Depreciation basis difference to reconcile net income (loss) of equity method investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_EquityMethodDepreciationBasisDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_EquityMethodInterestExpenseOnMezzanineLoan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest expense on mezzanine loan to reconcile net income (loss) of equity method investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_EquityMethodInterestExpenseOnMezzanineLoan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_EquityMethodInvestmentTotalOtherExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the other expenses reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_EquityMethodInvestmentTotalOtherExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_EquitymethodLeaseIntangiblesAmortizationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amortization expense to reconcile net income (loss) of equity method investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_EquitymethodLeaseIntangiblesAmortizationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_ResultsOfOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_ResultsOfOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetRelatedDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtLongtermAndShorttermCombinedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the aggregate of total long-term debt, including current maturities and short-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtLongtermAndShorttermCombinedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637232&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=118932676&amp;loc=d3e3602-108585<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109237563&amp;loc=d3e33749-111570<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (210.5-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=116637391&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyNet</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=116634182&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810854800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FUTURE MINIMUM RENTAL INCOME UNDER OPERATING LEASES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="text">&#160;<span></span>
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    <td>&#160;</td>
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    <td style="width: 2%; vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="vertical-align: top; padding-left: 0.25in">Total</td>
    <td>&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 30<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=119202524&amp;loc=SL77919396-209981<br></p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6803412848">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>REAL ESTATE (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="nump">$ 156,173<span></span>
</td>
<td class="nump">$ 126,274<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DevelopmentInProcess', window );">Apartments under construction</a></td>
<td class="nump">22,363<span></span>
</td>
<td class="nump">21,916<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RentalProperties', window );">Commercial properties</a></td>
<td class="nump">229,424<span></span>
</td>
<td class="nump">224,162<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LandAvailableForDevelopment', window );">Land held for development</a></td>
<td class="nump">62,037<span></span>
</td>
<td class="nump">83,641<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RealEstateSubjectToSalesContractsAtCost', window );">Real estate subject to sales contract</a></td>
<td class="nump">7,966<span></span>
</td>
<td class="nump">3,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyAtCost', window );">Total real estate, at cost, less impairment</a></td>
<td class="nump">477,963<span></span>
</td>
<td class="nump">459,142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAccumulatedDepreciation', window );">Less accumulated deprecation</a></td>
<td class="num">(90,173)<span></span>
</td>
<td class="num">(78,099)<span></span>
</td>
<td class="num">$ (177,546)<span></span>
</td>
<td class="num">$ (165,597)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestments', window );">Total real estate, net of depreciation</a></td>
<td class="nump">$ 387,790<span></span>
</td>
<td class="nump">$ 381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_RealEstateSubjectToSalesContractsAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of real estate subject to sales contracts at cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_RealEstateSubjectToSalesContractsAtCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DevelopmentInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of expenditures for a real estate project that has not yet been completed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DevelopmentInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentBuildingAndBuildingImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate of the carrying amounts as of the balance sheet date of investments in building and building improvements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentBuildingAndBuildingImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LandAvailableForDevelopment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of land available for development.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LandAvailableForDevelopment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation pertaining to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-28(Column F))<br> -URI http://asc.fasb.org/extlink&amp;oid=6590653&amp;loc=d3e638233-123024<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyAtCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RentalProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of income producing properties held for rental.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RentalProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<html>
<head>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6807407488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>OPERATING SEGMENTS (Details 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate assets</a></td>
<td class="nump">$ 387,790<span></span>
</td>
<td class="nump">$ 381,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures', window );">Investments in unconsolidated subsidiaries and investees</a></td>
<td class="nump">8,507<span></span>
</td>
<td class="nump">7,602<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Total notes and interest receivable</a></td>
<td class="nump">156,200<span></span>
</td>
<td class="nump">126,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 143,601<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">49,689<span></span>
</td>
<td class="nump">66,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">830,641<span></span>
</td>
<td class="nump">826,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidationItemsAxis=us-gaap_MaterialReconcilingItemsMember', window );">Segment Reconciling Items [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Real estate assets</a></td>
<td class="nump">387,790<span></span>
</td>
<td class="nump">381,043<span></span>
</td>
<td class="nump">$ 988,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures', window );">Investments in unconsolidated subsidiaries and investees</a></td>
<td class="nump">67,655<span></span>
</td>
<td class="nump">76,001<span></span>
</td>
<td class="nump">6,396<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Total notes and interest receivable</a></td>
<td class="nump">156,200<span></span>
</td>
<td class="nump">126,058<span></span>
</td>
<td class="nump">112,095<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">218,996<span></span>
</td>
<td class="nump">243,047<span></span>
</td>
<td class="nump">190,112<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">$ 830,641<span></span>
</td>
<td class="nump">$ 826,149<span></span>
</td>
<td class="nump">$ 1,296,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in equity method investee and investment in and advance to affiliate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118952595&amp;loc=d3e4428-111522<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidationItemsAxis=us-gaap_MaterialReconcilingItemsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidationItemsAxis=us-gaap_MaterialReconcilingItemsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6825068704">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>SCHEDULE IV MORTGAGE LOANS RECEIVABLE (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Total notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 156,200<span></span>
</td>
<td class="nump">$ 126,058<span></span>
</td>
<td class="nump">$ 143,601<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans', window );">Principal or Loans Subject to Delinquent Principal or Interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">156,185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestReceivable', window );">Accrued interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,114<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansAndLeasesReceivableAllowance', window );">Allowance for estimated losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(13,099)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Total notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 156,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | One Realco Corporation [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">2020-01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 7,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Realty Advisors Management, Inc.[Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.28%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2022-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Interest only paid quarterly.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 20,387<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 20,387<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Terraces of Marine Creek/Blue Lake at Marine Creek) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Walnut Park Crossing) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 340<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 369<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Trails at White Rock) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">100% Interest in UH of Harvest Hill III, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 21,712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow', window );">% of Cash Flow</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">68.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 15,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,959<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,732<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Inwood on the Park/UH of Inwood, LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">100% Interest in UH of Inwood, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 22,227<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,462<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Kensington Park/UH of Kensington, LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">100% Interest in UH of Inwood, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 18,723<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,310<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,933<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Prospectus Endeavors 4, LLC [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2023-01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,907<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,907<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Prospectus Endeavors 6, LLC [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2022-10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Oulan-Chikh Family Trust [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-03<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 174<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 174<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | H198, LLC McKinney Ranch Land [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2020-09<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Forest Pines [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2020-11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,868<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Spyglass Apartments of Ennis, LP [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2020-11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,083<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,288<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Bellwether Ridge [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2020-05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,429<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,765<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Parc at Windmill Farms [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2020-05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,066<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 7,602<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | RAI PFBL 2018 Purch Fee Note Weatherford [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 525<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Echo Station) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">100% Interest in UH of Temple, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 9,719<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,794<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">100% Interest in HFS of Humble, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 15,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,959<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Interest in Unified Housing Foundation Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow', window );">% of Cash Flow</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 15,756<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,836<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,369<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,953<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch/UH of Vista Ridge,LLC) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc. (Timbers of Terrell) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">100% Interest in UH of Terrell, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2032-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePriorLiens1', window );">Prior Liens</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 7,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,702<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,323<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc (2015 Advisory Fee) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,994<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc (2008-2014 Advisory Fee) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc (2018 Advisory Fee) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2020-06<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">RAI UHF 2019 Advisory Fee Note<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2022-03<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,782<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2018 Refin Fee (Lakeshore Villas)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2018 Refin Fee (Limestone Ranch)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2018 Refin Fee (Marquis @ Vista Ridge)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 839<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2018 Refin Fee (Timbers at the Park)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 432<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2018 Refin Fee (Trails @ White Rock)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 913<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2018 Refin Fee (Bella Vista)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-08<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2017 Fees on Sale LSC/SR/PKCR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,980<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Unified Housing Foundation, Inc [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoansOnRealEstateSecurity', window );">Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2017 Fees on Profit LSC/SR/PKCR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1', window );">Final Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">2021-10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Various Related Party Notes [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,553<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember', window );">Mortgage Loans [Member] | Various Non-Related Party Notes [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms', window );">Periodic Payment Terms</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Excess cash flow<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstate', window );">Carrying Amount of Mortgage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 28,989<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Fully reserved</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MortgageLoanOnRealEstateFinalMaturityDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents as a mortgage loan on real estate final maturity date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageLoanOnRealEstateFinalMaturityDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearMonthItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of cash flow due as payment based upon the contractual payment terms of the loan receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageLoansOnRealEstatePeriodicPaymentTermsPercentCashFlow</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MortgageLoansOnRealEstateSecurity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the underlying security of the loan receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageLoansOnRealEstateSecurity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual principal due at origination of mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column F<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column F))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateFaceAmountOfMortgages</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest rate of mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column B<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column B))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstatePeriodicPaymentTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of contractual payment terms of mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, whether mortgage loan is payable at level or varying amount to maturity, balloon payment requirement at maturity, and prepayment penalty.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column D<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column D))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstatePeriodicPaymentTerms</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of principal due on delinquent mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column H<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column H))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstatePriorLiens1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of prior lien on real estate securing mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column E<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column E))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstatePriorLiens1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansAndLeasesReceivableAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance to cover probable credit losses on loans and leases. Includes carryover of or adjustments to the allowance for loan losses in connection with business combinations. Excludes allowance for loans and leases covered under loss sharing agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.7(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11B<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=118936363&amp;loc=SL6953423-111524<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)(1)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=118939070&amp;loc=d3e15032-111544<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11B<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=118936363&amp;loc=SL6953423-111524<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SAB Topic 6.L.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74567-122707<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansAndLeasesReceivableAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column G))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MortgageLoansOnRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118952595&amp;loc=d3e4428-111522<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_JuniorLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_OneRealcoCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_OneRealcoCorporationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_RealtyAdvisorsManagementIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_RealtyAdvisorsManagementIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncTerracesOfMarineCreekBlueLakeAtMarineCreekMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncWalnutParkCrossingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncWalnutParkCrossingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncTrailsatWhiteRockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncInwoodOnTheParkUHOfInwoodLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncKensingtonParkUHOfKensingtonLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ProspectusEndeavors4LLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ProspectusEndeavors4LLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ProspectusEndeavors6LLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ProspectusEndeavors6LLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_OulanChikhFamilyTrustMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_OulanChikhFamilyTrustMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_H198LLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_H198LLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ForestPinesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ForestPinesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_SpyglassApartmentsofEnnisLPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_SpyglassApartmentsofEnnisLPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_BellwetherRidgeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_BellwetherRidgeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ParcatWindmillFarmsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_ParcatWindmillFarmsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_RAIPFBL2018PurchFeeNoteWeatherfordMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_RAIPFBL2018PurchFeeNoteWeatherfordMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncEchoStationMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncEchoStationMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLCMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillasHFSofHumbleLLC1Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLCMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC1Member</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncLimestoneRanchUHofVistaRidgeLLC2Member</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncTimbersofTerrellMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncTimbersofTerrellMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc2015AdvisoryFeeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc20082014AdvisoryFeeMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc2018AdvisoryFeeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc1Member">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc3Member">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc4Member">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc5Member">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc5Member</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc6Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc6Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc7Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc7Member</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc8Member">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_UnifiedHousingFoundationInc8Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_VariousRelatedPartyNotesMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_VariousRelatedPartyNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_VariousNonRelatedPartyNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateLoanTypeAxis=arl_VariousNonRelatedPartyNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R73.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810730208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Details Narrative) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Net operating losses carryforwards</a></td>
<td class="nump">$ 53,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Statutory tax rate</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6825113472">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>NOTES AND INTEREST PAYABLE (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total notes payable</a></td>
<td class="nump">$ 261,436<span></span>
</td>
<td class="nump">$ 295,535<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Less: unamortized deferred borrowing costs</a></td>
<td class="num">(7,342)<span></span>
</td>
<td class="num">(9,428)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total outstanding notes payable, net</a></td>
<td class="nump">254,094<span></span>
</td>
<td class="nump">286,107<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Accrued Interest</a></td>
<td class="nump">779<span></span>
</td>
<td class="nump">861<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Total notes payable, net and accrued interest</a></td>
<td class="nump">254,873<span></span>
</td>
<td class="nump">286,968<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables6Member', window );">Apartments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total notes payable</a></td>
<td class="nump">120,024<span></span>
</td>
<td class="nump">94,759<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables8Member', window );">Apartments Under Construction [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total notes payable</a></td>
<td class="nump">9,017<span></span>
</td>
<td class="nump">14,402<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables1Member', window );">Commercial [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total notes payable</a></td>
<td class="nump">92,838<span></span>
</td>
<td class="nump">136,327<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables2Member', window );">Land [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total notes payable</a></td>
<td class="nump">19,128<span></span>
</td>
<td class="nump">27,520<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables5Member', window );">Corporate and Other Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total notes payable</a></td>
<td class="nump">$ 20,429<span></span>
</td>
<td class="nump">$ 22,527<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109500613&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest payable on debt, including, but not limited to, trade payables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=109500613&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=119400593&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables6Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables6Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables8Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables8Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables5Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=arl_NotesPayableOtherPayables5Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6804678112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>REAL ESTATE (Details 1)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandImprovementsMember', window );">Land Improvements [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">25 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandImprovementsMember', window );">Land Improvements [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">40 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_BuildingsAndImprovementsMember', window );">Buildings And Improvements [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_BuildingsAndImprovementsMember', window );">Buildings And Improvements [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">40 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_TenantImprovementsMember', window );">Tenant Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives', window );">Estimated useful lives</a></td>
<td class="text">Shorter of useful life or terms of related lease<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_FurnitureFixturesAndEquipmentMember', window );">Furniture, Fixtures And Equipment [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_FurnitureFixturesAndEquipmentMember', window );">Furniture, Fixtures And Equipment [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">7 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 35<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=68071081&amp;loc=d3e1205-110223<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_BuildingsAndImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_TenantImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_TenantImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_FurnitureFixturesAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=arl_FurnitureFixturesAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6829154464">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>NOTES AND INTEREST RECEIVABLE (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 169,299<span></span>
</td>
<td class="nump">$ 140,327<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLosses', window );">Allowance for estimated losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(13,099)<span></span>
</td>
<td class="num">(14,269)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Total notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">156,200<span></span>
</td>
<td class="nump">$ 126,058<span></span>
</td>
<td class="nump">$ 143,601<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">169,299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestReceivable', window );">Accrued interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,114<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLosses', window );">Allowance for estimated losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(13,099)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableNet', window );">Total notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 156,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Prospectus Endeavors 4, LLC [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Jan. 31,  2023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Prospectus Endeavors 4, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,907<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Prospectus Endeavors 6, LLC [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Oct. 31,  2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Prospectus Endeavors 6, LLC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Oulan-Chikh Family Trust [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Mar. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Oulan-Chikh Family Trust<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 174<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | H198, LLC (McKinney Ranch Land) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Sep. 30,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">H198, LLC (McKinney Ranch Land<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Forest Pines [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Nov. 30,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Forest Pines<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,868<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Spyglass Apartments of Ennis, LP [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Nov. 30,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Spyglass Apartments of Ennis, LP<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,288<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Bellwether Ridge [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">May 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bellwether Ridge<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,765<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Parc at Windmill Farms [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">May 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Parc at Windmill Farms<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 7,602<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Autumn Breeze [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Oct. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Autumn Breeze<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,302<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">       Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Plum Tree [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Oct. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Plum Tree<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">       Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Ingleside [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Dec. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Ingleside<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,531<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">       Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | RNC [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Sep. 30,  2024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">RNC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 8,802<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">       Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Revolving Line of Credit Steeple Crest [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Oct. 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Revolving Line of Credit Steeple Crest<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,665<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">       Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | RAI PFBL 2018 Purch Fee Note Weatherford [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Dec. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">RAI PFBL 2018 Purch Fee Note Weatherford<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 525<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Echo Station) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Echo Station)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 1,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Inwood on the Park) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Inwood on the Park)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 3,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Kensington Park) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Kensington Park)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 3,933<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Lakeshore Villas)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Lakeshore Villas)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 6,369<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Lakeshore Villas)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 2,732<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Limestone Ranch)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 1,953<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Limestone Ranch)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Limestone Ranch)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Reserve at White Rock Phase I) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Reserve at White Rock Phase I)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Reserve at White Rock Phase II) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Reserve at White Rock Phase II)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Trails at White Rock) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Timbers of Terrell)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 1,323<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Tivoli) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Tivoli)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Trails at White Rock) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Trails at White Rock)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 3,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. #4 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 10,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unsecured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. #5 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Jun. 30,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 5,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unsecured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. #6 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Mar. 31,  2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 4,782<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unsecured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Lakeshore Villas) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Jul. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Lakeshore Villas)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Limestone Ranch) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Jul. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Limestone Ranch)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Marquis at Vista Ridge) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Jul. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Marquis @ Vista Ridge)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 839<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Timbers at the Park) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Jul. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Timbers at the Park)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 432<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Trails at White Rock) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Jul. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Trails at White Rock)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 913<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. (Bella Vista) [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Aug. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc. (Bella Vista)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Secured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. #7 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Oct. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 6,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unsecured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Unified Housing Foundation, Inc. #8 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unified Housing Foundation, Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unsecured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Realty Advisors Mgmt [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Dec. 31,  2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Realty Advisors Management, Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2.28%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 20,387<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Unsecured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | One Realco Corp [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoanOnRealEstateFinalMaturityDate', window );">Maturity Date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Jan. 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">One Realco Corporation<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateInterestRate', window );">Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 7,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Unsecured<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Other Related Party Notes [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDateDescription', window );">Description of maturity date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="text">Various<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="text">Other related party notes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest', window );">Description of Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="text">Various<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="nump">$ 3,553<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="text">Various secured interests<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember', window );">Performing Loans [Member] | Other Non-Related Party Notes [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_MortgageLoanOnRealEstateFinalMaturityDateDescription', window );">Description of maturity date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Various<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfProperty', window );">Description of property</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Other non-related party notes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest', window );">Description of Interest Rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Various<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes and interest receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 10,276<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings', window );">Description of Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Various secured interests<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Related party notes</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">An allowance was taken for estimated losses at full value of note.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to description of collateral.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DescriptionOfLoansAndLeasesReceivableCollateralForSecuredBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to description of interest rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DescriptionOfLoansReceivableWithFixedRatesOfInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_DescriptionOfProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identifies the site (such as country, region, state, county or municipality) of the property or properties under mortgage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_DescriptionOfProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_arl_MortgageLoanOnRealEstateFinalMaturityDateDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of maturity date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">arl_MortgageLoanOnRealEstateFinalMaturityDateDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>arl_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoanOnRealEstateFinalMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maturity date of mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column C<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column C))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoanOnRealEstateFinalMaturityDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest rate of mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph Column B<br> -Subsection 29<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 310<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column B))<br> -URI http://asc.fasb.org/extlink&amp;oid=6589523&amp;loc=d3e617274-123014<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11B<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=118936363&amp;loc=SL6953423-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=118955202&amp;loc=SL82895884-210446<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919249-210447<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7)(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919249-210447<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allowance for credit loss, of financing receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=119407570&amp;loc=SL82919230-210447<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=118952595&amp;loc=d3e4428-111522<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ProspectusEndeavorsFourLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ProspectusEndeavorsFourLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ProspectusEndeavorsSixLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ProspectusEndeavorsSixLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_OulanChikhFamilyTrustMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_OulanChikhFamilyTrustMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_H198LLCMcKinneyRanchLandMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_H198LLCMcKinneyRanchLandMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ForestPinesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ForestPinesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_SpyglassApartmentsofEnnisLPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_SpyglassApartmentsofEnnisLPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_BellwetherRidgeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_BellwetherRidgeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ParcatWindmillFarmsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_ParcatWindmillFarmsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_AutumnBreezeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_AutumnBreezeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_PlumTreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_PlumTreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_InglesideMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_InglesideMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_RNCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_RNCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_RevolvingLineOfCreditSteepleCrestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_RevolvingLineOfCreditSteepleCrestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_RAIPFBL2018PurchFeeNoteWeatherfordMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_RAIPFBL2018PurchFeeNoteWeatherfordMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncKensingtonParkMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncKensingtonParkMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillas1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncLakeshoreVillas1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncLimestoneRanch1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncLimestoneRanch1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationIncLimestoneRanch2Member</td>
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<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationInc1Member</td>
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<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationInc5Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=arl_UnifiedHousingFoundationInc6Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810772288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES AND INTEREST RECEIVABLE (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<tr>
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<tr style="background-color: #cceeff">
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<tr>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">525</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,481</td>
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    <td>&#160;</td>
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<tr>
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    Housing Foundation, Inc. (Inwood on the Park) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,639</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    Housing Foundation, Inc. (Kensington Park) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,933</td>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">2,000</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">6,369</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Lakeshore Villas) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">2,732</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,953</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">2,000</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Limestone Ranch) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">4,000</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Reserve at White Rock Phase I) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Reserve at White Rock Phase II) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Timbers of Terrell) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,323</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Tivoli) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. (Trails at White Rock) <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/32</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,815</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Secured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">12/21</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">10,401</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Unsecured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: center">06/20</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">12.00</td>
    <td style="vertical-align: bottom; text-align: left">%</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">5,314</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">Unsecured</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap; padding-left: 16px">Unified
    Housing Foundation, Inc. <sup>(1)</sup></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.</p></div>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6821625664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of presentation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Basis
of presentation.</i></b><i>&#160;&#160;&#160;&#160;</i>The Company presents its financial statements in accordance with generally
accepted accounting principles in the United States (&#8220;GAAP&#8221;). The accompanying Consolidated Financial Statements include
our accounts, our subsidiaries, generally all of which are wholly-owned, and all entities in which we have a controlling interest.
Arrangements that are not controlled through voting or similar rights are accounted for as a Variable Interest Entity (VIE), in
accordance with the provisions and guidance of ASC Topic 810 &#8220;Consolidation&#8221;, whereby we have determined that we are
a primary beneficiary of the VIE and meet certain criteria of a sole general partner or managing member as identified in accordance
with Emerging Issues Task Force (&#8220;EITF&#8221;) Issue 04-5, Investor&#8217;s Accounting for an Investment in a Limited Partnership
when the Investor is the Sole General Partner and the Limited Partners have Certain Rights (&#8220;EITF 04-5&#8221;). VIEs are
generally entities that lack sufficient equity to finance their activities without additional financial support from other parties
or whose equity holders as a group lack adequate decision making ability, the obligation to absorb expected losses or residual
returns of the entity, or have voting rights that are not proportional to their economic interests. The primary beneficiary generally
is the entity that provides financial support and bears a majority of the financial risks, authorizes certain capital transactions,
or makes operating decisions that materially affect the entity&#8217;s financial results. All significant intercompany balances
and transactions have been eliminated in consolidation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including, but
not limited to: the amount and characteristics of our investment; the obligation or likelihood for us or other investors to provide
financial support; our and the other investors&#8217; ability to control or significantly influence key decisions for the VIE;
and the similarity with and significance to the business activities of us and the other investors. Significant judgments related
to these determinations include estimates about the current future fair values and performance of real estate held by these VIEs
and general market conditions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For
entities in which we have less than a controlling financial interest or entities where it is not deemed to be the primary beneficiary,
the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of
these entities is included in consolidated net income. Our investment in Gruppa Florentina, LLC is accounted for under the equity
method.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company in accordance with the VIE guidance in ASC 810 &#8220;Consolidations&#8221; consolidates ten multifamily residential properties
at December 31, 2019 and&#160;nine at December 31, 2018, located throughout the United States ranging from 1,657 units to 1,489
units.&#160; Assets totaling approximately $478&#160;million and approximately $464 million at December 31, 2019 and 2018, respectively,&#160;are
consolidated and included in &#8220;Real estate, at cost&#8221; on the balance sheet and are all collateral for their respective
mortgage notes payable, none of which are recourse to the partnership in which they are in or to the Company.&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstatePolicyTextBlock', window );">Real estate, depreciation, and impairment</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Real
estate, depreciation, and impairment</i>.</b><i>&#160;&#160;&#160;&#160;</i>Real estate assets are stated at the lower of depreciated
cost or fair value, if deemed impaired. Major replacements and betterments are capitalized and depreciated over their estimated
useful lives. Depreciation is computed on a straight-line basis over the useful lives of the properties (buildings and improvements&#8212;10-40
years; furniture, fixtures and equipment&#8212;5-10 years). We continually evaluate the recoverability of the carrying value of
its real estate assets using the methodology prescribed in ASC Topic 360, &#8220;Property, Plant and Equipment,&#8221; Factors
considered by management in evaluating impairment of its existing real estate assets held for investment include significant declines
in property operating profits, annually recurring property operating losses and other significant adverse changes in general market
conditions that are considered permanent in nature. Under ASC Topic 360, a real estate asset held for investment is not considered
impaired if the undiscounted, estimated future cash flows of an asset (both the annual estimated cash flow from future operations
and the estimated cash flow from the theoretical sale of the asset) over its estimated holding period are in excess of the asset&#8217;s
net book value at the balance sheet date. If any real estate asset held for investment is considered impaired, a loss is provided
to reduce the carrying value of the asset to its estimated fair value.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any
properties that are treated as &#8220;subject to sales contract&#8221; on the Consolidated Balance Sheets and are listed in detail
in Schedule III, &#8220;Real Estate and Accumulated Depreciation&#8221; are those in which we have not recognized the legal sale
according to the guidance in ASC 360-20 due to various factors, disclosed in each sale transaction under Item 1 Significant Real
Estate Acquisitions/Dispositions and Financing. Any sale transaction where the guidance reflects that a sale had not occurred,
the asset involved in the transaction, including the debt and property operations, remained on the books of the Company. We continue
to charge depreciation to expense as a period costs for the property until such time as the property has been classified as held
for sale in accordance with guidance reflected in ASC 360-10-45 &#8220;Impairment or Disposal of Long-Lived Assets&#8221;.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy', window );">Real estate held for sale</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Real
estate held for sale</i>.</b><i>&#160;&#160;</i>We classify properties as held for sale when certain criteria are met in accordance
with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance
sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported
at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. We did not have any real estate
assets classified as held for sale at December 31, 2019 or 2018.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective
as of January 1, 2015, we adopted the revised guidance in Accounting Standards Update No.&#160;2014-08 regarding discontinued
operations. For sales of real estate or assets classified as held for sale after January 1, 2015, we will evaluate whether a disposal
transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine
if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued
operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as
discontinued operations for all periods presented; if not, it will be presented in continuing operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any
properties that are treated as &#8220;subject to sales contract&#8221; on the Consolidated Balance Sheets and are listed in detail
in Schedule III, &#8220;Real Estate and Accumulated Depreciation&#8221; are those in which we have not recognized the legal sale
according to the guidance in ASC 360-20 due to various factors, disclosed in Item 1 &#8220;Significant Real Estate Acquisitions/Dispositions
and Financing.&#8221; Any sale transaction where the guidance reflects that a sale had not occurred, the asset involved in the
transaction, including the debt, if appropriate, and property operations, remained on the books of the Company. We continue to
charge depreciation to expense as a period costs for the property until such time as the property has been classified as held
for sale in accordance with guidance reflected in ASC 360-10-45 &#8220;Impairment or Disposal of Long-Lived Assets.&#8221;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalizationOfInternalCostsPolicy', window );">Cost capitalization</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Cost
capitalization</i>.</b>&#160;&#160;&#160;&#160; The cost of buildings and improvements includes the purchase price of property,
legal fees and other acquisition costs. Costs directly related to planning, developing, initial leasing and constructing a property
are capitalized and classified as Real Estate in the Consolidated Balance Sheets. Capitalized development costs include interest,
property taxes, insurance, and other direct project costs incurred during the period of development.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A
variety of costs are incurred in the acquisition, development and leasing of properties. After determination is made to capitalize
a cost, it is allocated to the specific component of a project that is benefited. Determination of when a development project
is substantially complete and capitalization must cease involves a degree of judgment. Our capitalization policy on development
properties is guided by ASC Topic 835-20 &#8220;Interest &#8211; Capitalization of Interest&#8221; and ASC Topic 970 &#8220;Real
Estate - General&#8221;. The costs of land and buildings under development include specifically identifiable costs. The capitalized
costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest
costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. We consider a
construction project as substantially completed and held available for occupancy upon the receipt of certificates of occupancy,
but no later than one year from cessation of major construction activity. We cease capitalization on the portion (1)&#160;substantially
completed and (2)&#160;occupied or held available for occupancy, and we capitalize only those costs associated with the portion
under construction.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We
capitalize leasing costs which include commissions paid to outside brokers, legal costs incurred to negotiate and document a lease
agreement and any internal costs that may be applicable. We allocate these costs to individual tenant leases and amortize them
over the related lease term.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementPolicyPolicyTextBlock', window );">Fair value measurement</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Fair
value measurement</i></b><i>.&#160;&#160;&#160;&#160;</i>We apply the guidance in ASC Topic 820, &#8220;Fair Value Measurements
and Disclosures,&#8221; to the valuation of real estate assets. These provisions define fair value as the price that would be
received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date,
establish a hierarchy that prioritizes the information used in developing fair value estimates and require disclosure of fair
value measurements by level within the fair value hierarchy. The hierarchy gives the highest priority to quoted prices in active
markets (Level 1 measurements) and the lowest priority to unobservable data (Level 3 measurements), such as the reporting entity&#8217;s
own data.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date
and includes three levels defined as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <td style="width: 6%; white-space: nowrap">Level&#160;1</td>
    <td style="width: 2%; white-space: nowrap">&#160;&#8212;</td>
    <td style="width: 92%; text-align: justify">Unadjusted
    quoted prices for identical and unrestricted assets or liabilities in active markets.</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap">Level&#160;2</td>
    <td style="white-space: nowrap">&#160;&#8212;</td>
    <td style="text-align: justify">Quoted prices for
    similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly
    or indirectly, for substantially the full term of the financial instrument.</td></tr>
<tr style="vertical-align: top">
    <td style="white-space: nowrap">Level&#160;3</td>
    <td style="white-space: nowrap">&#160;&#8212;</td>
    <td style="text-align: justify">Unobservable inputs
    that are significant to the fair value measurement.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A
financial instrument&#8217;s categorization within the valuation hierarchy is based upon the lowest level of input that is significant
to the fair value measurement.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_RelatedPartiesPolicyTextBlock', window );">Related parties</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Related
parties</i>.&#160;&#160;</b>We apply ASC Topic 805, &#8220;Business Combinations&#8221;, to evaluate business relationships. Related
parties are persons or entities who have one or more of the following characteristics, which include entities for which investments
in their equity securities would be required, trust for the benefit of persons including principal owners of the entities and
members of their immediate families, management personnel of the entity and members of their immediate families and other parties
with which the entity may deal if one party controls or can significantly influence the decision making of the other to an extent
that one of the transacting parties might be prevented from fully pursuing its own separate interests, or affiliates of the entity.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Recognition of revenue</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Recognition
of revenue.</i></b><i>&#160;&#160;&#160;&#160;</i>Our revenues, which are composed largely of rental income, include rents reported
on a straight-line basis over the lease term. In accordance with ASC 805 &#8220;Business Combinations&#8221;, we recognize rental
revenue of acquired in-place &#8220;above-&#8221; and &#8220;below-market&#8221; leases at their fair values over the terms of
the respective leases.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Reimbursements
of operating costs, as allowed under most of our commercial tenant leases, consist of amounts due from tenants for common area
maintenance, real estate taxes and other recoverable costs, and are recognized as revenue in the period in which the recoverable
expenses are incurred. We record these reimbursements on a &#8220;gross&#8221; basis, since we generally are the primary obligor
with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier and have the
credit risk with respect to paying the supplier.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Rental
income for residential property leases is recorded when due from residents and is recognized monthly as earned, which is not materially
different than on a straight-line basis as lease terms are generally for periods of one year or less. For hotel properties, revenues
for room sales and guest services are recognized as rooms occupied and services rendered. An allowance for doubtful accounts is
recorded for all past due rents and operating expense reimbursements considered to be uncollectible.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sales
and the associated gains or losses of real estate assets are recognized in accordance with the provisions of ASC Topic 360-20,
&#8220;Property, Plant and Equipment &#8211; Real Estate Sale&#8221;. The specific timing of a sale is measured against various
criteria in ASC 360-20 related to the terms of the transaction and any continuing involvement in the form of management or financial
assistance associated with the properties. If the sales criteria for the full accrual method are not met, the Company defers some
or all of the gain recognition and accounts for the continued operations of the property by applying the finance, leasing, deposit,
installment or cost recovery methods, as appropriate, until the sales criteria are met.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign currency translation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Foreign
currency translation.</i></b><i>&#160;&#160;&#160;</i>Foreign currency denominated assets and liabilities of subsidiaries with
local functional currencies are translated to United States dollars at year-end exchange rates. The effects of translation are
recorded in the cumulative translation component of shareholders&#8217; equity. Subsidiaries with a United States dollar functional
currency re-measure monetary assets and liabilities at year-end exchange rates and non-monetary assets and liabilities at historical
exchange rates. The effects of re-measurement are included in income. Exchange gains and losses arising from transactions denominated
in foreign currencies are translated at average exchange rates.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansAndLeasesReceivableNonperformingLoanAndLeasePolicy', window );">Non-performing notes receivable</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Non-performing
notes receivable.</i></b><i>&#160;&#160;</i>ARL considers a note receivable to be non-performing when the maturity date has passed
without principal repayment and the borrower is not making interest payments in accordance with the terms of the agreement.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_InterestRecognitionOnNotesReceivablePolicyTextBlock', window );">Interest recognition on notes receivable</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Interest recognition on notes receivable.&#160;&#160;</i></b>We
record interest income as earned in accordance with the terms of the related loan agreements.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy', window );">Allowance for estimated losses</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Allowance
for estimated losses.</i></b><i>&#160;&#160;</i>We assess the collectability of notes receivable on a periodic basis, of which
the assessment consists primarily of an evaluation of cash flow projections of the borrower to determine whether estimated cash
flows are sufficient to repay principal and interest in accordance with the contractual terms of the note. We recognize impairments
on notes receivable when it is probable that principal and interest will not be received in accordance with the contractual terms
of the loan. The amount of the impairment to be recognized generally is based on the fair value of the partnership&#8217;s real
estate that represents the primary source of loan repayment. See Note 5 &#8220;Notes and Interest Receivable&#8221; for details
on our notes receivable.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash equivalents</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Cash equivalents.</i></b><i>&#160;&#160;&#160;</i>For
purposes of the Consolidated Statements of Cash Flows, all highly liquid investments purchased with an original maturity of three
months or less are considered to be cash equivalents.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Restricted cash</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Restricted
cash.&#160;&#160;</i></b>Restricted cash is comprised primarily of cash balances held in escrow by financial institutions under
the terms of certain secured notes payable and certain unsecured bonds payable.&#160;</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskCreditRisk', window );">Concentration of credit risk</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Concentration
of credit risk.</i></b><i>&#160;</i>The Company maintains its cash balances at commercial banks and through investment companies,
the deposits of which are insured by the Federal Deposit Insurance Corporation (FDIC). At December 31, 2019 and 2018, the Company
maintained balances in excess of the insured amount.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings per share</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif"><b><i>Earnings
per share.</i></b><i>&#160;&#160;&#160;</i>Income (loss) per share is presented in accordance with ASC 620 &#8220;Earnings per
Share&#8221;. Income (loss) per share is computed based upon the weighted average number of shares of common stock outstanding
during each year.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of estimates</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Use
of estimates.</i></b><i>&#160;&#160;&#160;&#160;</i>In the preparation of Consolidated Financial Statements in conformity with
GAAP, it is necessary for management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts
of revenues and expense for the year ended. Actual results could differ from those estimates.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income taxes</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Income
taxes.</i></b><i>&#160;&#160;&#160;</i>The Company is a &#8220;C&#8221; corporation for U.S. federal income tax purposes. For
tax periods ending before August 31, 2012, the Company filed an annual consolidated income tax return with TCI and IOR and their
subsidiaries. ARL was the common parent for the consolidated group. After that date, the Company and the rest of the ARL group
joined the MRHI consolidated group for tax purposes. The income tax expense (benefit) for the 2012 tax period in the accompanying
financial statement was calculated under a tax sharing and compensating agreement between ARL, TCI and IOR. That agreement continued
until August 31, 2012, at which time a new tax sharing and compensating agreement was entered into by ARL, TCI, IOR and MRHI for
the remainder of 2012 and subsequent years. The agreement specifies the manner in which the group will share the consolidated
tax liability and also how certain tax attributes are to be treated among members of the group.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent accounting pronouncements</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Recent
accounting pronouncements</i></b><i>.</i>&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">In
December 2019, the FASB issued ASU 2019-12,&#160;<i>Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.&#160;</i>The
amendments in this Update simplify the accounting for income taxes by removing certain exceptions from ASC 740. Also, the amendments
in this Update simplify the accounting for income taxes by requiring that an entity recognize a franchise tax (or similar tax)
that is partially based on income as an income-based tax, requiring that an entity evaluate when a step up in the tax basis of
goodwill should be considered part of the business combination, and other targeted changes. The effective date of the amendments
is for fiscal years, and interim periods within those years, beginning after December 15, 2020. The Company is currently evaluating
the impact that the adoption of ASU 2019-12 may have on its consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">In
October 2018, the FASB issued ASU 2018-17,&#160;<i>Consolidation (Topic 810): Targeted Improvements to Related Party Guidance
for Variable Interest Entities</i>. This standard is intended to improve the accounting when considering indirect interests held
through related parties under common control for determining whether fees paid to decision makers and service providers are variable
interests. The effective date of the amendments is for fiscal years, and interim periods within those years, beginning after December
15, 2019. The new standard must be adopted retrospectively with early adoption permitted. The Company does not expect the adoption
of this ASU to have a material impact on its consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
August 2018, the FASB issued ASU 2018-13,&#160;<i>Fair Value Measurement (Topic 820): Disclosure Framework&#8212;Changes to the
Disclosure Requirements for Fair Value Measurement&#160;</i>that eliminates, adds and modifies certain disclosure requirements
for fair value measurements. The effective date of the standard is for fiscal periods, and interim periods within those years,
beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of
significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement
uncertainty should be applied prospectively. All other amendments should be applied retrospectively. Early adoption is permitted.
The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard amends the existing lease accounting guidance
and requires lessees to recognize a lease liability and a right-of-use asset for all leases (except for short-term leases that
have a duration of one year or less) on their balance sheets. Lessees will continue to recognize lease expense in a manner similar
to current accounting. For lessors, accounting for leases under the new guidance is substantially the same as in prior periods,
but eliminates current real estate-specific provisions and changes the treatment of initial direct costs. Entities are required
to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparable
period presented, with an option to elect certain transition relief. ASU 2016-02 was effective for reporting periods beginning
after December 15, 2018. The adoption of ASU 2016-02 did not have a material impact on the Company&#8217;s financial position
and results of operations.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">In
May 2014, Accounting Standards Update (&#8220;ASU&#8221;) No. 2014-09 (&#8220;ASU 2014-09&#8221;), &#8220;Revenue from Contracts
with Customers,&#8221; was issued. This new guidance established a new single comprehensive revenue recognition model and provides
for enhanced disclosures. Under the new policy, the nature, timing and amount of revenue recognized for certain transactions could
differ from those recognized under existing accounting guidance. This new standard does not affect revenue recognized under lease
contracts. ASU 2014-09 is effective for reporting periods beginning after December 15, 2017. As the majority of the Company&#8217;s
revenue is from rental revenue related to leases, the Company has determined that the adoption of this Standard was immaterial
to the consolidated financial statements and related disclosures.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for credit risk.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32847-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=116657188&amp;loc=SL116659661-227067<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=116821951&amp;loc=d3e32247-109318<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=116821951&amp;loc=d3e32280-109318<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65884525&amp;loc=d3e40913-109327<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for estimating the allowance for losses on loans and lease receivables. The disclosure may include (a) how the entity determines each element of the allowance, (b) which loans are evaluated individually and which loans are evaluated as a group, (c) how the entity determines both the allocated and unallocated portions of the allowance, (d) how the entity determines the loss factors applied to graded loans in order to develop a general allowance, and (e) what self-correcting mechanism the entity uses to reduce differences between estimated and actual losses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=118936363&amp;loc=d3e5144-111524<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for deeming amounts due from a borrower as not being in compliance with principal and interest payment terms, describes the method for valuing a loan in such status, and indicates whether interest contractually accruing thereon is being recognized as income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for real estate held for development or sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section 35<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6496927&amp;loc=d3e30448-110314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for entities that primarily develop and then sell real property at retail or otherwise.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 15<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6450852&amp;loc=d3e24871-108386<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=77935101&amp;loc=d3e24546-110282<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18823-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18823-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6191-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6161-108592<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6143-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e5967-108592<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6061-108592<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6132-108592<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e5967-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UseOfEstimates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810728320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND FEES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock', window );">Schedule of description of the related party transactions and fees</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fees,
expenses, and revenue paid to and/or received from our advisor:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 95%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.5in">
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"><b>For
    the years ended December 31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: top; border-bottom: #000000 1pt solid; text-align: center"><b>2017</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: top; text-align: center">(dollars
    in thousands)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="width: 61%; vertical-align: top">Fees:</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Advisory</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">6,612</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">11,475</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">11,082</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Mortgage
    brokerage and equity refinancing</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#8212;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">852</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">1,712</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Net
    income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">357</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">631</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">250</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">6,969</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">12,958</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">13,044</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Other Expense:</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Cost
    reimbursements</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">4,265</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">4,720</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">3,240</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Interest
    paid (received)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(4,686</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(3,370</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">(1,195</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">(421</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">1,350</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">2,045</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Revenue:</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Rental</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">1,311</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">1,178</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">783</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Fees
paid to Regis and related parties:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 97%; border-collapse: collapse; float: none; font: 10pt Times New Roman, Times, Serif; margin: 0px auto 0px 0.15in">
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>For
    the years ended December 31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>2017</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="10" style="vertical-align: bottom; text-align: center">(dollars
    in thousands)</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="width: 61%; vertical-align: bottom">Fees:</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 10%; vertical-align: bottom; text-align: right">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; padding-left: 16px">Property
    acquisition</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">318</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">32,008</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">$</td>
    <td style="vertical-align: bottom; text-align: right">9,128</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; padding-left: 16px">Property
    management, construction management and leasing commissions</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">165</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">540</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">963</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; padding-left: 16px">Real
    estate brokerage</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">71</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,068</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">1,369</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">554</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">34,616</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">11,460</td></tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_arl_ScheduleOfRelatedPartyTransactions1TableTextBlock', window );">Schedule of net receivable from related parties</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table reconciles the beginning
and ending balances of accounts receivable from and (accounts payable) to related parties (Pillar) as of December 31, 2019 and
2018:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 70%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td style="vertical-align: top; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1pt solid; text-align: center"><b>Pillar</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 82%; vertical-align: top">Related party receivable, December 31, 2018</td>
    <td style="width: 2%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 14%; vertical-align: bottom; text-align: right">70,377</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Cash transfers</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">38,139</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Advisory fees</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(6,612</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Net income fee</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(357</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Cost reimbursements</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(4,265</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Interest income</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4,686</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Notes receivable purchased</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(28,669</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Fees and commissions</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(71</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Expenses (paid) received by Advisor</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">10,521</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Financing (mortgage payments)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(299</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top; padding-left: 16px">Sales/purchases Commission</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">(318</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: top; padding-left: 16px">Intercompany property transfers</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2,864</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: top">Related party receivable, December 31, 2019</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: right">85,996</td></tr>
</table><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.</p></div>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810847776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>REAL ESTATE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateDisclosureTextBlock', window );">REAL ESTATE</a></td>
<td class="text"><table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin: 0px">
<tr style="vertical-align: top">
    <td style="width: 60pt"><b>NOTE 3.</b></td>
    <td><b><i>REAL ESTATE</i></b></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At
December 31, 2019 and 2018, ARL&#8217;s real estate investment is comprised of the following (dollars in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse; margin: 0px">
<tr>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="6" style="border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: center"><b>December
    31,</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left"><b>&#160;</b></td>
    <td>&#160;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><b>2019</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><b>2018</b></td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="width: 70%; vertical-align: bottom; white-space: nowrap">Apartments</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">156,173</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">126,274</td>
    <td style="width: 1%; vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Apartments
    under construction</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">22,363</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">21,916</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Commercial
    properties</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">229,424</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">224,162</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Land
    held for development</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">62,037</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">83,641</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Real
    estate subject to sales contract</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">7,966</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">3,149</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total
    real estate, at cost, less impairment</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right">477,963</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right">459,142</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Less
    accumulated deprecation</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(90,173</td>
    <td style="vertical-align: bottom; text-align: left">)</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(78,099</td>
    <td style="vertical-align: bottom; text-align: left">)</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total
    real estate, net of depreciation</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">387,790</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">381,043</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Expenditures
for repairs and maintenance are charged to operations as incurred. Significant betterments are capitalized. When assets are sold
or retired, their costs and related accumulated depreciation are removed from the accounts with the resulting gains or losses
reflected in net income or loss for the period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation
is computed on a straight line basis over the estimated useful lives of the assets as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin: 0px 0px 0px 0.5in">
<tr style="vertical-align: bottom">
    <td style="width: 50%; text-align: left; text-indent: 0px">Land
    improvements</td>
    <td style="width: 50%; text-align: left; text-indent: 0px">25
    to 40 years</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">&#160;</td>
    <td style="text-align: left; text-indent: 0px">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">Buildings
    and improvements</td>
    <td style="text-align: left; text-indent: 0px">10
    to 40 years</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">&#160;</td>
    <td style="text-align: left; text-indent: 0px">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">Tenant
    improvements</td>
    <td style="text-align: left; text-indent: 0px">Shorter
    of useful life or terms of related lease</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">&#160;</td>
    <td style="text-align: left; text-indent: 0px">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: left; text-indent: 0px">Furniture,
    fixtures and equipment</td>
    <td style="text-align: left; text-indent: 0px">3
    to 7 years</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Fair
Value Measurement</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company applies the guidance in ASC Topic 820, &#8220;Fair Value Measurements and Disclosures,&#8221; to the valuation of real
estate assets.&#160;The Company is required to assess the fair value of its consolidated real estate assets with indicators of
impairment. The value of impaired real estate assets is determined using widely accepted valuation techniques, including discounted
cash flow analyses on the expected cash flow of each asset, as well as the income capitalization approach, which considers prevailing
market capitalization rates, analyses of recent comparable sales transactions, information from actual sales negotiations and
bona fide purchase offers received from third parties. The methods used to measure fair value may produce an amount that may not
be indicative of net realizable value or reflective of future values. Furthermore, although the Company believes its valuation
methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine
the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #252525">The
fair value measurements used in these evaluations are considered to be Level 2 and 3 valuations within the fair value hierarchy
in the accounting rules, as there are significant observable (Level 2) and unobservable inputs (Level 3). Examples of Level 2
inputs the Company utilizes in its fair value calculations are appraisals and bona fide purchase offers from third parties. Examples
of Level 3 inputs the Company utilizes in its fair value calculations are discount rates, market capitalization rates, expected
lease rental rates, timing of new leases, an estimate of future sales prices and comparable sales prices of similar assets, if
available.&#160;There was no provision for impairment during the years ended December 31, 2019, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
following is a description of the Company&#8217;s significant real estate transactions for the year ended December 31, 2019:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 18pt">&#160;</td>
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

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<tr style="vertical-align: top">
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

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<tr style="vertical-align: top">
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 18pt">&#160;</td>
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    <td style="text-align: justify">Sold 6.25 acres
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    land received with a total acreage of 1.27 acres located in Riverside, California in exchange for a note receivable of the
    same value. The Company recognized a loss from this sale of approximately $0.08 million.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
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    <td style="text-align: justify">Purchased 33.05
    acres of land in Athens, Alabama for a total purchase price of $2.1 million, out of which $0.9 million was paid in cash and
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 18pt">&#160;</td>
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    <td style="text-align: justify">Purchased from a
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 18pt">&#160;</td>
    <td style="width: 18pt; text-align: justify">&#9679;</td>
    <td style="text-align: justify">Purchased an option
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    million from a third party land developer.</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
Company continues to invest in the development of apartment projects. During the year ended December 31, 2019, ARL through its
subsidiaries have invested $28.5 million related to the construction and development of various apartment complexes and capitalized
$0.8 million of interest costs.</p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -URI http://asc.fasb.org/topic&amp;trid=2156125<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 978<br> -URI http://asc.fasb.org/topic&amp;trid=2134977<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 976<br> -URI http://asc.fasb.org/topic&amp;trid=2134846<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 974<br> -URI http://asc.fasb.org/topic&amp;trid=2156429<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 972<br> -URI http://asc.fasb.org/topic&amp;trid=2134617<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6810749744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NOTES AND INTEREST PAYABLE<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2019</div></th></tr>
<tr class="re">
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">NOTES AND INTEREST PAYABLE</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Below
is a summary of our notes and interest payable as of December 31, 2019 and 2018 (dollars in thousands):&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 80%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.15in">
<tr>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: left">&#160;</td>
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    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">120,024</td>
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    <td style="width: 1%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 12%; vertical-align: bottom; white-space: nowrap; text-align: right">94,759</td>
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<tr>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">9,017</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">14,402</td>
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<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Commercial</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">92,838</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
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    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">136,327</td>
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<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Land&#160;</td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">19,128</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">27,520</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">20,429</td>
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right">22,527</td>
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<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total
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    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; white-space: nowrap; text-align: right">261,436</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(7,342</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">(9,428</td>
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<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total
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    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">254,094</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">286,107</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
    <td style="vertical-align: bottom; white-space: nowrap">Accrued
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    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">779</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td>
    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">861</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
    <td style="vertical-align: bottom; white-space: nowrap">Total
    notes payable, net and accrued interest</td>
    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">254,873</td>
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    <td>&#160;</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; text-align: left">$</td>
    <td style="border-top: black 1pt solid; border-bottom: black 2pt double; vertical-align: bottom; white-space: nowrap; text-align: right">286,968</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The
following table summarizes our contractual obligations for principal payments as of December 31, 2019 (dollars in thousands):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" border="0" style="width: 30%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin: 0px 0px 0px 0.15in">
<tr>
    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><b>Year
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    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr style="background-color: #cceeff">
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    <td style="width: 3%">&#160;</td>
    <td style="width: 3%; vertical-align: bottom; text-align: left">$</td>
    <td style="width: 33%; vertical-align: bottom; white-space: nowrap; text-align: right">34,304</td>
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<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">55,393</td>
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<tr style="background-color: #cceeff">
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">13,437</td>
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<tr>
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">36,770</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
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    <td style="vertical-align: bottom; white-space: nowrap; text-align: right">1,995</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
<tr>
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    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 1pt solid; text-align: right">119,537</td>
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<tr style="background-color: #cceeff">
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    <td>&#160;</td>
    <td style="vertical-align: bottom; border-bottom: black 2pt double; text-align: left">$</td>
    <td style="vertical-align: bottom; white-space: nowrap; border-bottom: black 2pt double; text-align: right">261,436</td>
    <td style="vertical-align: bottom; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest
payable at December 31, 2019 and 2018, was approximately $.08 million and $.09 million, respectively. Our debt has interest rates
ranging from 2.5% to 9.75%&#160;per annum with maturity dates between 2021 and 2059. The mortgages were collateralized by deeds
of trust on real estate having a net carrying value of $311.5 million.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There
are various land mortgages, secured by the property, that are in the process of a modification or extension to the original note
due to expiration of the loan. We are in constant contact with these lenders, working together in order to modify the terms of
these loans and we anticipate a timely resolution that is similar to the existing agreement or subsequent modification.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In
conjunction with the development of various apartment projects and other developments, we drew down $8.5 million and $81.0 million
in construction loans during the year ended December 31, 2019, and 2018, respectively.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p></div>
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